Basic doubt
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2012
when if get either profit or loss from the profit and loss account, why do we call it "profit and loss" account but not "profit or loss account"?
CA Alok Somani
(Expert)
30 October 2012
it is "STATEMENT OF PROFIT AND LOSS" as per revised schedule VI
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