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does all exp and all incomes appear in profit and loss a/c???

Question Posted / sukanya

Answers were Sorted based on User's Feedback



does all exp and all incomes appear in profit and loss a/c???..

Answer / vinodh1982

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

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does all exp and all incomes appear in profit and loss a/c???..

Answer / dipti

yes

Is This Answer Correct ?    2 Yes 0 No

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