what is the difference betwen p & l a\c and income & expenditure s

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Question

what is the difference betwen p & l a\c and income &
expenditure statement

Question Submitted By :: Ravikumar123

I also faced this Question!!

Rank

Answer Posted By

Re: what is the difference betwen p & l a\c and income & expenditure statement

Answer
# 1

P&L account is prepared by the firms who runs business to 
make or with a motive to earn Profits.

Whereas Income & Exp statement is prepared by the non-
profit motive organisations like Orphanages or any other 
service organisations.

Is This Answer Correct ?

20 Yes

1 No

Srinivas Annavarapu

Re: what is the difference betwen p & l a\c and income & expenditure statement

Answer
# 2

income & expenditure statement is prepare for the service organizations 

profit& loss a/c is prepare for the business organizations

Is This Answer Correct ?

6 Yes

0 No

Ravinder.sunkara

Re: what is the difference betwen p & l a\c and income & expenditure statement

Answer
# 3

P&L A/C is prepared by trading companies, where as income &
expenditure statement is created by Non- trading companies

Is This Answer Correct ?

0 Yes

0 No

Abdul Bari

Question	Asked @	Answers
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