Profit and loss account
This query is : Resolved
31 July 2012
why income statement is known as profit and loss account instead of profit or loss account?
31 July 2012
Dont confuse buddy, Previosly P&L account was there and now, as per revised schedule VI, it is called statement of profit and Loss account.
Hope your query is resolved.
Hope your query is resolved.
31 July 2012
Somethings are meant to be accepted the way are.
So dont get confuse
So dont get confuse
01 August 2012
it same . but after changes in revised schedule vi P/L account called as a Income statement
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