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 Audit interview questions  Audit Interview Questions
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 Accounting General interview questions  Accounting General Interview Questions
 Accounting AllOther interview questions  Accounting AllOther Interview Questions
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
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
let me know the meaning of Drawer,Drawee and payee of the cheque  2
If we (Company Side) call a engginier (supplier) for Repair & Maintenance & arrange loading & boarding for him, then this loading & Boarding expens will be booked in Repair & Maintenance or Entertainment.  1
What's the difference between Issue department and banking department? TATA1
how are the items of the p& l linked to the items in the balance sheet  1
Expand ________FICCI  1
what is ADR FactSet5
I am BSC(comp.sc) student & I want to give the interview for account assistant/executive. what preparation is required, please tell me. Muthoot-Group2
What is provision and reserve and how u treat in account Capital-IQ6
apptitude Questions for accounts payable job Airtel1
What is Accumulated Depreciation? Thomson-Reuters2
what is difference between nominal and real account Axis-Bank6
golden rules of accounting? how bank earn profit? Bank-Of-America8
Tell us something about Sinking Fund. HSBC2
Cheque is a----------negotiable instrument  2
EXPAND______________IBA  1
what is fundamentals of accounting ?  12
What is Fringe benifits tax?  3
Expand---------PDCB  1
Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of the asset on 01.05.95 50000/- Salvage Value 5000/- Method of depriciation & date WDV 15% sales of asset on 30.09.2000 Rs 25000/-  2
Is there any difference between Expenses and Payments  3
 
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