Question

All the personal & real accounts are recorded in P&L A/c. true or false?​

Answer 1

Answer:

Explanation: Account of expenses, losses, gains, and incomes is called the Nominal account. Profit and Loss Account contains all indirect expenses and indirect incomes of the firm. Therefore, Profit and Loss Account is a Nominal Account and not a real account.

Explanation:

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Answer 2

Profit and Loss Account is a Real Account. - False. Explanation: ... Profit and Loss Account contains all indirect expenses and indirect incomes of the firm.