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what is the difference betwen p & l a\c and income &
expenditure statement
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Answer / srinivas annavarapu
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 ? | 34 Yes | 3 No |
Answer / ravinder.sunkara
income & expenditure statement is prepare for the service organizations
profit& loss a/c is prepare for the business organizations
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / abdul bari
P&L A/C is prepared by trading companies, where as income &
expenditure statement is created by Non- trading companies
| Is This Answer Correct ? | 2 Yes | 0 No |
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