vinodh vijayaraghavan


{ City } chennai
< Country > india
* Profession * team leader
User No # 111893
Total Questions Posted # 0
Total Answers Posted # 1

Total Answers Posted for My Questions # 0
Total Views for My Questions # 0

Users Marked my Answers as Correct # 13
Users Marked my Answers as Wrong # 0
Questions / { vinodh vijayaraghavan }
Questions Answers Category Views Company eMail




Answers / { vinodh vijayaraghavan }

Question { NK, 2879 }

does all exp and all incomes appear in profit and loss a/c???


Answer

Yes and according to the 3rd of the "Golden Rules of Accounting" which is the nominal account - All expenses/losses and incomes/gains are to be transferred to the P&L A/C. This will then help arrive at the right profit / loss for the enterprise based on which decisions can be taken

Is This Answer Correct ?    13 Yes 0 No