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GeekInterview.com > Interview Questions > Accounting
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Question: Profit and Loss a/c
Answer: What is the importance of the profit and loss account? What is the most important item of the P&L A/C (asked in a Citibank interview) |
| August 08, 2008 08:08:42 |
#1 |
| akshayparhi |
Member Since: June 2008 Total Comments: 1 |
RE: Profit and Loss a/c
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A company's profit and loss account shows revenue, expenditure and the profit and/or loss resulting from operations for a given 'financial year'. So it is necessory for the company to know the profit and loss after deducting / adding all direct and indirect expenses or income.
Akshay Parhi |
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