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18) Difference between Income & Expenditure and Profit and
Loss Account?
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Answer / baddam.venugopalreddy
Income & Expenditure prepare non-profit organisations such
as schools and colleges trusts and where as Profit and
Loss Account prepare all other organisations ....
| Is This Answer Correct ? | 62 Yes | 14 No |
Answer / hema
income and expenditure profit and loss account
1.it is the revenue a/c of 1.it is the account of a
non trading concern. trading concern.
2.it does not start with 2.it start with the balance
any balance. of trading account.
| Is This Answer Correct ? | 32 Yes | 3 No |
Answer / rahul kanojiya
Answer
1 Income & Expenditure prepare non-profit organisations
such
as schools and colleges trusts and where as Profit and
Loss Account prepare all the a/c of the expenses and we
get net profit from the p/l a/c . ....
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / bivek shah
income is salary whereas expenditure is loss
| Is This Answer Correct ? | 1 Yes | 3 No |
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Audit 
