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What are the difference between P/l a/c and income and
expenditure
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Answer Posted / naveen kumar.karumuri
Profit and Loss is prepared for the To know the financial position of the during business of the Organisation.Whether is loss or Profit,
For Ex.Salaries paid to during the Month/Year
Administration Exp
Depreciation
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Income And Expenditure Accounts are prepared for Non Profit Organisation.
Ex.Charities,Subscriptions,Donations etc.
Thank You
Naveen Kumar.Karumuri
Accounts Executive
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