What is the difference between P&L account and Balance Income
& Expenditure account ??
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Answer / dhanesh chandramangal
1.P & l account maintained by profit oriented compaies,
income & expenditure account is mainted by service oriented
companies[hospital, charitable society,etc]
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / nancy
Expenditure is the amount of money spent on a weekly or
monthly basis.
income is the financial gain (earned or unearned) over a
given period of time.
a profit and loss account is an account compiled at the end
of an accounting period to show gross and net profit or loss
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / umair
Profit and Loss Account is prepared by Profit Oriented
Organization, while Income and Expenditure Account is
prepared by Non Profit Organization.
| Is This Answer Correct ? | 1 Yes | 0 No |
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