why we use the term profit and loss account instead of
profit or loss account
- 4 Answers
- 7587 Views
- Syntel, I also Faced
- E-Mail Answers
Answer Posted / kruti
In Profit & Loss a/c we are recording both profit
transaction & loss transaction. profit on sell of goods or
services or assets and loss on on giving various charges,
expenses or sale of machinery.
so here we are recording both transaction instead of
recording single one. that's y we are called this account
profit & loss a/c instead of profit or loss a/c.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
can any one tell me what kind of qns are asked in gail entrance test. i m apearing for the exam of accounts & finance. please let me know the ans on my id pragneshmall1@gmail.com
What is Hot Issue Income for Hedge Funds?
Expand-------ANCS
pls send me capital iq quition paper pls, ihave 2mr interview thanks
Expand--------CMTS
EXPAND___________NAA
What do you mean Business
Expand------ARN
Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.
why cost center is assign to gl account in sap
How to reconsile vendor accountswhat to add and subtract is there any standard form please get me answer
What is meant for GR form, which is used in export of goods without of payment of duty ? For what purpose we use it ? Should merchandise exporter use it ?
what are the new rules of central excise ?
what is the reason for balance sheet not getting tallyed
what is a depository?
