Interested to Buy Any Domain ? << Click Here >> for more details...
18) Difference between Income & Expenditure and Profit and
Loss Account?
- 4 Answers
- 22580 Views
- D-Mart, JPMorgan Chase, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
What is Budgeted capital ?
is there any chance for confilcts between an accountant and a sales executive ? If yes how do you resolve the same as an accountant ?
what is meant by credit derivative?
How will draw inferences about the financial health and performance using ratio ?
what is provision?
method of preparing the trial balance ?
what is merchant banking ?
A cheque of Rs 65000/- received from aruna traders dishoured
What is DRA in bank reconciliation.
When oustanding expense is give in the TB and corresponding expense is not then how will we the same? Eg.: Outstaning salary 100 given in the TB and salary for the month is not there to add oustanding with the same. In this situation how will we treat the same. Only in profit & loss account or in balance sheet or both or?
whether unsecured loans written off can be transferred directly to capital reserve without crediting it to profit and loss account
Please let me know the journal entry for the below. "A" paid Rs.100 to "C" on behalf of "B"?
Audit 
