Interested to Buy Any Domain ? << Click Here >> for more details...
why is it called profit and loss account why not profit or
loss account, ( u either get profit or loss )
- 13 Answers
- 36876 Views
- Genpact, Symbiosis, I also Faced
- E-Mail Answers
Answer Posted / siva
the profit and loss account is not prepared every month of the year, and is prepared either quarterly or half yearly or else yearly. It is not necessary to incur profit during every period or else incur loss. And, as it comprises of bad debts , depreciation,etc., as its part,which are treated as loss sometimes in accounting, it is called as profit and loss account. The profit evolved in Profit and Loss account also carries losses of some periods. And i think, that is why we call it as Profit and Loss account and not as profit or loss account. This is what the reason, upto my knowledge.
If this is not correct, please place a reply.
| Is This Answer Correct ? | 4 Yes | 7 No |
Post New Answer View All Answers
give the examples of Error of Duplication?and Error of compensatin? with entries
can we get all interview questions with answers in tally 9 which mostly asked in MNC's.
please send me some previous sbi clerical interview questions to my email id....
How can a shopkeeper maintain the daily data in tally
Define Payee
In Oracle Applications will Translation will create any journal entry then what is the journal entry what are the accounts affected
how there prepare bank interview
When is a dedit note raised When is an expense booked
HI, FREINDS, I WANT TO KHOW IS THE CFP (CETICFIED FINANCIAL PLANNER) IS A GOOD COURSE, IS THEY ANY INSISTUTE IN HYDERABAD,IF ANY ONE DOING THIS COURSE PLEASE REPLY ME.
Is interest of a business unit Operating Expense or Non Operating Expense
what do you meant auction? what is F & o segment?
What is Profir/Earning Before Tax and Profit after tax any one explaint this Clearly.
what is sales life cycle???
with out college degree con't we dc accounting job?
What is specific reserve
