P&L
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2010
Why profit & Loss account is called so when there can be only profit or loss and not both
27 June 2010
There is both profit & loss in Profit & Loss Account (but only net profit or net loss and not both)
Example:
Their can be profit on sale of car or loss on sale of car.
Profit on sale of investment or loss on sale of investment.
So we can not say there cant be both profit and loss. Yes there can be profit & loss but not net profit or net loss both.
Example:
Their can be profit on sale of car or loss on sale of car.
Profit on sale of investment or loss on sale of investment.
So we can not say there cant be both profit and loss. Yes there can be profit & loss but not net profit or net loss both.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2010
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