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Diff between Income & Expenditure A/c AND P/L a/c.
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Answer / sadhasri
Income and Expenditure account is prepared by Non Trading
Organisations.
Profit and Loss account is prepared by Trading
Organisations.
| Is This Answer Correct ? | 23 Yes | 1 No |
Answer / nibinpn
p&l account is maintained by trading and manufacturing
account
income and expenditure account is maintained by NPO s ie
non profit making organization (trust club etc.)
| Is This Answer Correct ? | 11 Yes | 0 No |
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