What is trail balance? what is Profit & loss a/c ? what is
Balance sheet?
- 4 Answers
- 7385 Views
- Siyaram, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / munmun sharma
Trial Balance is the process to check the accuracy of the
accounts made so far in the Ledger. Profit and loss account
is made to asscertain the profit earned and the loss
incurred. This statement is also called 'Income Statement.
Balance sheet is made to know the financial position on the
last day of financial year of the business. This statement
is also called a Position statement. Profit & Loss A/C and
Balalnce sheet are known as Final Accounts.
| Is This Answer Correct ? | 13 Yes | 0 No |
Trial Balance is a statement prepared to know the
arthematical accuracy of the books of accounts prepared.
Profit and Loss account is the financial statement prepared
to know the result of the business.
Balance sheet is prepared to know the Financial Status of
the business at a given period
| Is This Answer Correct ? | 7 Yes | 0 No |
Trail balance:
it is a statement. it is prepared by besed on ledger closing information. it concist of in the debit side all expences, losses & assests. the main objective of preferation of trail balance to know the aurthamatit accurucy of the organization.
profit & loss a/c :
it is a financial statement. it consist of all indirect exp & incoms, poerating & non perating. main object of preparetion of p & l ac to know the net profit possition of the organation.
balance sheet:
it is one of the financial statement. it consist of assets & liabilities. main objective of preparetion balance sheet to know the financial posotion or condation of he organization.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sarat kumar
trail balance is not a books of accounts it is a state ment
showing balances of various ladgera/c taken from
balancesheet.
profit &loss a/c show the net profit at end of financial
year
balance sheet helps the companey to know its financial
condition at end of every accounts year.
| Is This Answer Correct ? | 0 Yes | 0 No |
Why provisions are made & what will be the Journal entry for different types of provisions.
what is the Definition of reconciliation? / define reconciliation?
why did you want to join banking sectors?
what is the finallizition account
WHAT IS THE MEANING OF DEPRECIATION ?
What is money at call and short notice ?
3 Answers L&T, Lakshmi Vilas Bank, Sathya Technologies,
Hello Everbody....this saturday i attended the interview of times job fair...were capgemini has called me for technical round ..I am bcom graduate with tally an SAP FICO....Can any body help me ... I wan to know what is this technical round...An what they may ask me ......if any body have question an answer kindly send to my id ..that is damudi123@yahoo.com....or contact me to my number ..+919900410314.Or any body have friends working in capgemini bangalore?Please i need urgent help...thnak you with regards adnan hasan
what is differred tax liability? explain in detail with some example.
what is reconciliation
what is ledger,journal,voucher.
Expand C C A
hi i am appliying for job of accounts executive in dubai, and i dont have much exp in SAP fi/co End user plz any one can give me the transaction codes of for end user sap AR/AP & GL and about automatic payment programme , thnks in advance gurus ,plz mail me on my id afreenjuvriya@yahoo.com
Audit 
