What are the difference between P/l a/c and income and
expenditure
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Answer / naveen kumar.karumuri
Profit and Loss is prepared for the To know the financial position of the during business of the Organisation.Whether is loss or Profit,
For Ex.Salaries paid to during the Month/Year
Administration Exp
Depreciation
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Income And Expenditure Accounts are prepared for Non Profit Organisation.
Ex.Charities,Subscriptions,Donations etc.
Thank You
Naveen Kumar.Karumuri
Accounts Executive
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Answer / hemant
when ever the target of company to be earn the profit menas
whome the target is earn then serve we prepaired the P&L
accounts bu the when they thinks frist of all serve then
earn they prepaired income and expendutre accounts as per
accouting system
otherwise the meaning is same
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