Why is it that P & L is called P & L account - a "Account"
and
Balance sheet - a "Sheet"?
Why not vce versa?
Thanks
Anil.
Why is it that P & L is called P & L account - a "Account"
and
Balance sheet - a "Sheet"?
Why not vce versa?
Thanks
Anil.
partly agree
balance sheet is known as a sheet
bcoz
it shows the whole position , condition, picture of an enterprises by showing balances on a sheet of a paper
thats why known as a sheet
CAclubindia
