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
- 9220 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 IS CORPORATE ACTION?
Expand---------PDBC
How to increase our credit rating score quickly?
why funds management doc is generated during migo and miro
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c
what is the difference between speculation & investment?
Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
is indian bank or canara bank CBS brach?
what is non stock?
what is Functional Specification in SAP FICO?
EXPAND______________ICT
what is audit mean? what is vouching? how to finalize the account? what is the meaning of + cast < as per last year auditor’s a/c ^ as per ledger JV journal voucher PV payment voucher AJV authorised journal voucher APV authorised journal voucher RV receiving voucher PCV petty cash voucher CPV cash payment voucher DN debit note DO delivery order PO purchases order CN credit note PS policy schedule RPS renewal policy schedule B bill Cx cross check nCx cannot cross check CB cash bill L list/letter SRF stock requisition form R report OR office report INV invoice DS deposit slip AB assessment bill Re receipt ECF entertainment claim form ATRF air ticket requisition form
What are the benefits ofparticipation in a depository?
What is the relationship between, issued share capital, share premium and paid up capital?
