18) Difference between Income & Expenditure and Profit and
Loss Account?

Answer Posted / hema

income and expenditure profit and loss account
1.it is the revenue a/c of 1.it is the account of a
non trading concern. trading concern.
2.it does not start with 2.it start with the balance
any balance. of trading account.

Is This Answer Correct ?    32 Yes 3 No



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