why is it called profit and loss account why not profit or
loss account, ( u either get profit or loss )
Answer Posted / jovita
because we enter profits and losses in the p&l a/c
e.g: profit on sale of investment
loss on sale of machinery etc
| Is This Answer Correct ? | 5 Yes | 3 No |
Post New Answer View All Answers
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?
HI i have been shortlisted for the Syndicate bank PO post. Can any one guide me about the interview questions..and answers?
What goals do you have in your career
Can i make invoice when my client apply for TIN Number ?
A specially designed interview book on interviews for accounting Jobs . Pl send your mail addresses for despatch
What is money measurement concept
How will be prepare invoice in tally, please tell me step by step
How goodwill is accounted for the first time in a company .
why should we are preparing BRS
Define capital
What is DRA in bank reconciliation.
What is the New GL concept? how do you configure new GL a/c?
difference between vat 47 & vat 49
i am called for interview but im getting confused wt sort of questions i wd have to face,its a bank job and post is cash ofiicer please help me.
What do mean by Computerization of accounts