what is the difference betwen p & l a\c and income &
expenditure statement
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Answer Posted / nirakar
Income statement also called p & l statement. It is a
company's financial statement, the purpose of the income
atatement is to show during the period being report.
Any cash received from current yr is regarded only is
income.and any cash paid in all the purpose of comapny's
work may or may not be regarded as expenditure.
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