Question

Give three difference between :
(i) Trading Account and Profit and Loss Account.
(ii) Capital Expenditure and Revenue Expenditure.​

Answer 1

Answer:

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Explanation:

a trading account is created in order to find the surplus/deficit that a club or society receives from providing a service while a profit and loss account is also known as an income statement which is used to find out the amount of profit/loss a company makes from the sale of goods after deducting expenses.

capital expenditure is the amount in which a company pays in order to improve or re-install an asset.while revenue expenditure is the amount of expenses for the day to day running of a business ,

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Answer 2

Refer the pic for the answer ...