Why do call p&la/cas a P&l a/c ?, why not P{or}L a/c
Answer Posted / deepak mistry
at the time of drafting P&L a/c we are not in knowledge
that wheather at the end of accounting year there is loss
or profit with certainity. there may be loss or profit at
the end of A.Y
Is This Answer Correct ? | 2 Yes | 4 No |
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