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what is the difference betwen p & l a\c and income &
expenditure statement
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Answer Posted / srinivas annavarapu
P&L account is prepared by the firms who runs business to
make or with a motive to earn Profits.
Whereas Income & Exp statement is prepared by the non-
profit motive organisations like Orphanages or any other
service organisations.
| Is This Answer Correct ? | 34 Yes | 3 No |
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