what is the difference betwen p & l a\c and income &
expenditure statement
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Answer Posted / sandeep kumar
profit n loss is prepared to acheive the objectives of
accoutancy.
While income n expenditure is prepared to ascertain the net
profit n loss, which is transferred to capital account at
the end of the financial year.
| Is This Answer Correct ? | 2 Yes | 6 No |
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