what is the difference betwen p & l a\c and income &
expenditure statement
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Answer Posted / kaushik patra , ibcs, soa univ
Through P/L a/c we get Net profit or net loss of a concern
but incase of I/E a/c we get net surplus or net deficit of
the organigation as we prepare P/L a/c for a profitable
organigation & I/E a/c for a nonprofitable organigation.
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