does all exp and all incomes appear in profit and loss a/c???
- 2 Answers
- 2869 Views
- NK, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Yes and according to the 3rd of the "Golden Rules of Accounting" which is the nominal account - All expenses/losses and incomes/gains are to be transferred to the P&L A/C. This will then help arrive at the right profit / loss for the enterprise based on which decisions can be taken
| Is This Answer Correct ? | 13 Yes | 0 No |
Is Bank Reconciliation Statement is compulsory prepared? Even when both cash & Bank Book are tally?
13 Answers Alfa Textiles, Ascon, ETA, GE, IBM, Mphasis, OPI Global, Star,
What is the diffrecnce between liabilities and owner's equity?
Sales Return is asset or laibility
what is fixed cost?
ABC is a person he is paying rent every month last month he did not paid the rent and current month he paid this month rent and also last month rent. so now what is the journal entry?
Expand ------HMDA
When is proposed divided a current Liability and when is it non-current liability? Why is it in the list of Current Capital Accounts?
Expand C B D T
what is audit
Expand----------MTSC
expand NASDAQ?
tax on raw material is direct expense or indirect expense
Audit 
