why is it called profit and loss account why not profit or
loss account, ( u either get profit or loss )
Answer Posted / prasant m
how much profit excess over expenses and losses or how much
expenses excess over profit,exactly can say,all the gains
and losses are collected in order to ascertain the excess of
gains over the losses or vice-versa. second Q is why not
Profit or Loss ,every word not denominate just from air dear
friend,there was some concept behind that that is the
difference between "And" and "OR",Every business has both
side effect if we will go each activities step by step, we
would find some transaction we have lost or spent more then
cost of goods and some cases gone according to business
motive so we can not say we got profit each transaction.
have a good day
Is This Answer Correct ? | 10 Yes | 13 No |
Post New Answer View All Answers
WHICH IS MORE RISKY TO A BANKER, A CASH CREDIT OR A LETTER OF CREDIT
WHAT IS CORPORATE ACTION?
What is dematerialisation and its benefits?
give me only one transactions in both side (debit&credit) should be in real accounts
What is 100% EOu? what is the benifit and what is difficulty of it?
Q A project cost Rs.6,00,000. It yields annually a profit of Rs.80,000. After depreciation of 12.5% p.a.but before tax of 50%.Calculate payback priod.
hi, what type of questions are asked in capital iq interview .plz let me know. thanks... venkat...
Expand---------NPTO
How goodwill is accounted for the first time in a company .
What exactly is derivatives segment. can u explain futures and options with examples...
can you define exogenity endogenity both terms are from economics both are different from exogenous & endogenous variables. I can not find the answers. please help if you can....
what is the meaning of input vat & out put vat?
How to caluculate the value of Corporate Profit, the value of personal savings and the value of indirect tax?
what are your plans after completing your MBA (or) studies ?
sir,how to get strong position in finance .how to get good position in company. qulification.Msc,MBA