Answer / harshita

balance sheet is a stock concept AND profit and loss account is a flow concept.

Answer / anjana

1.P&L a/c is prepared to know the NET RESULT of business at the end of accounting year. It is a nominal account.
2.Balance sheet is a statement of assets & liabilities of a business with a view to ascertain the financial position of a business as on a particular date.

Answer / binay shrestha

Heads which are transfer to Balance sheet do not lose their identity and become the opening balances for coming year, whereas, those accounts head which are transfer to the profit loss account are cease to exist.

Define banking?

0 Answers   State Bank Of India SBI,

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Expand CTS.

0 Answers   SEBI,

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How will you differentiate between Repo Rate and Revere Repo Rate?

0 Answers   IBPS,

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What is net profit ratio? What does it show?

0 Answers  

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what is the short cut to select the credit note voucher in Tally ERP 9?

0 Answers  

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What Do You Know About the Term at Par in Issuance Shares?

0 Answers   Joint Stock Company,

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Hi this is praveen completed MBA with Finance and HR as specializations in 2007 im very much intrested in appearing for group exams? so I want to know when will be the next edition? ie how I need to apply for groups for the 1st time?

0 Answers  

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Name some para-banking activities?

0 Answers  

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What is Secondary Market?

20 Answers  

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what is the diff among repo rate,reverse repo rate and bank rate?

2 Answers  

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what ism put option

3 Answers  

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What is Portfolio? What is the portfolio Management Style?

6 Answers   HCL,

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