Interested to Buy Any Domain ? << Click Here >> for more details...
why we use the term profit and loss account instead of
profit or loss account
- 4 Answers
- 9437 Views
- Syntel, I also Faced
- E-Mail Answers
Answer Posted / chalapathi rao govada
Becasue we are consideing various profit transactins and
loss transactions during a specified period.
Eg: profit on sale of assets
Loss on sale of Assets.
Eventhough our objective of preparing p&L is to determine
what is the profit or loss for the given period.Based on
the above logic we are calling it as profit and loss
account.
| Is This Answer Correct ? | 10 Yes | 0 No |
Post New Answer View All Answers
What's the meaning of Preferential Creditor?
Iam selected for final round of interview in IDBI bank for asst. manager post. Can any one help me in knowing what kind of questions will be asked in the interview and how should i prepair?
Hello Everbody....this saturday i attended the interview of times job fair...were capgemini has called me for technical round ..I am bcom graduate with tally an SAP FICO....Can any body help me ... I wan to know what is this technical round...An what they may ask me ......if any body have question an answer kindly send to my id ..that is damudi123@yahoo.com....or contact me to my number ..+919900410314.Or any body have friends working in capgemini bangalore?Please i need urgent help...thnak you with regards adnan hasan
HI i have been shortlisted for the Syndicate bank PO post. Can any one guide me about the interview questions..and answers?
what is meant by qurum
Plz Give the Inventry Accounting Procedure 1.Domestic Purchases ( VAT,CST,& Excise) 2.Import Purchases ( Direct Expences & Excise ) 3.When Will the Price Diffrence Entry Happen? 4.Cash Discount & Trade Discount On Purchases? 5.Domestic Sales ( VAT,CST,& Excise) 6.Export Sales ( Customes ,Excise ) 7.Cash Discount & Trade Discount On Sales?
I have been interview in next week my posting is accounts officer i have be manage with AP,AR,BRS and GL what Books i have read.
If its is declared by auditor that business is not going concern that what journal entry will be pass?
I want to know that if i get call from Mumbai Circle in SBI. what does it mean where will be my posting and my job profile, will i get accomodation from bank or not.
For how long should prepayments be carried in the books as fictitious asset and when is it ideal for a new coy to pay tax
whts is the meaning of over cost and under cost, what is difference ?
About Funding Working Capital to a Company? A company Turn over is 12 Cr, but in the bank statement credits per month is more that 3 Cr? how this could happen? awaiting your views?
what is sevice tax? on what service tax is applicable. explain with examples?
Short Answer on _____________Intangible Assets
state and explain THREE types of situation to which accounting concept might be applicable
