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what is the difference betwen p & l a\c and income &
expenditure statement

Question Posted / ravikumar123

Answers were Sorted based on User's Feedback



what is the difference betwen p & l a\c and income & expenditure statement..

Answer / srinivas annavarapu

P&L account is prepared by the firms who runs business to
make or with a motive to earn Profits.

Whereas Income & Exp statement is prepared by the non-
profit motive organisations like Orphanages or any other
service organisations.

Is This Answer Correct ?    34 Yes 3 No

what is the difference betwen p & l a\c and income & expenditure statement..

Answer / ravinder.sunkara

income & expenditure statement is prepare for the service organizations

profit& loss a/c is prepare for the business organizations

Is This Answer Correct ?    10 Yes 1 No

what is the difference betwen p & l a\c and income & expenditure statement..

Answer / abdul bari

P&L A/C is prepared by trading companies, where as income &
expenditure statement is created by Non- trading companies

Is This Answer Correct ?    2 Yes 0 No

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