Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
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 )

Answer Posted / ronald antony t

Because P&L a/c records profits earned by business and loss incurred to business

And Net Profit/loss is just balancing fig of abow insted of transfering all profits and loss we are just transfering Net Balance

Is This Answer Correct ?    11 Yes 7 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Aravinda Financiers sanctioned a loan of Rs 250000. A cheque was sent after adjusting processing charges Rs 247250 Pass necessary entry

1871


Queries for Big4 Articleship : Whether son of CA in practice effects chances.

6926


What are the things are not Included in Annual Reports?

2013


What is the base for issuing of C-form date of sale or date of purchase since goods sent by one quarter ended may reach in next quarter.

2417


define drawer or maker

4170


In case of cement plant we have to capitalizee locomotive engine my question is about the rate of depreciation on SM basis and category in which it should be capitalize?

2078


WHICH IS MORE RISKY TO A BANKER, A CASH CREDIT OR A LETTER OF CREDIT

2085


if a person join company on 01-04-04. after 5 year he is resigned on 31-03-09 and date of leaving is 14-04-09. Is he is on under gratuity payable or not? he is completed 5 years on 31-03-09. what is basis on calcultion on final settlement is date of resignation or date of leaving whcih is on 14-04-09.

1826


what is the difference between planned and non planned budgt

1942


why gross profit transfering to profit & loss account

4176


What is the Formula For Return on Working Capital

2143


How to make an adjustment entry for the variation of physical asset Vs book value of asset. For example: As per asset register there are 1000 computers where as 950 computers are available in stores. How to make an adjustment entries for the difference of 50 quantities?

2123


what is organic profit? and how it is calculated?

2201


why do u want to join bpo sector

2207


Why do you want to work for us?

1873