Interested to Buy Any Domain ? << Click Here >> for more details...
why we use the term profit and loss account instead of
profit or loss account
- 4 Answers
- 9264 Views
- Syntel, I also Faced
- E-Mail Answers
Answer Posted / kruti
In Profit & Loss a/c we are recording both profit
transaction & loss transaction. profit on sell of goods or
services or assets and loss on on giving various charges,
expenses or sale of machinery.
so here we are recording both transaction instead of
recording single one. that's y we are called this account
profit & loss a/c instead of profit or loss a/c.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
I want to know how to get Appeared to the examination of State bank of India. And how can i find the question Book Series.
Who is called consignor
what is assessment? how many types of assessment will be there? and what is the documents and preparations for sales tax, service tax assessments??
what do u mean by comparative budget?
What do mean by Computerization of accounts
What Is The Limitation Of Remuneration Allowed If Book Profit Is 375850 In A Business Firm And In A Professional Firm?
closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
what is sevice tax? on what service tax is applicable. explain with examples?
deffered tax treatment in financial statements
Expand-------ANCS
WHAT IS PROSPECTUS?
How does the ration analysis help in depicting profit and loss
Example for extra ordinary expenditure?
A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .
what do you mean by jounal voucher? Jounal entry for dishonored cheque can be possible thruogh jv?
