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18) Difference between Income & Expenditure and Profit and
Loss Account?
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Answer Posted / 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 |
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