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

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Short Answer on _________________City Compensatory allowance

1523


what is corporate accounting?

1563


1. what is debenture? 2.Why company will issue shares? 3. What is audit? 4. What is the role of finance department? 5. What is mutual fund?

1755


difference between office expense and miscelleanous expense with some examples

1590


When is a dedit note raised When is an expense booked

1690






What is COVER payment?

2219


please send me some previous sbi clerical interview questions to my email id....

1683


let me know the meaning and Nature of cash

1510


Expand---------OTMD

2013


give the examples of Error of Duplication?and Error of compensatin? with entries

4008


Difference between cash and merchantile system?

1832


is anybody attended interview in ernst&young for EMS PROCESS , pls let me know abt the written test and what type of report writing

1732


Guest expenses Rs 5500/-on behalf of partner Aravind was written as Hospitality. Rectify it

1458


how to prepare HSD statements in tally

2199


Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry

1546