What is the difference between a provisions and reserves?
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WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE
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2 Answers eClerx, Tata Motors,
When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?
Audit 
