Question

Net income in case of persons practicing vocation is determined by preparing profit and loss account , true or false?​

Answer 1

Answer:

its FALSE

Explanation:

net income is determined by preparing income and expenditure in case of person practicing vocation

PRACTICING VOCATION is NPO so P&L a/c doesnt made

Answer 2

Answer:

False

Explanation:

This statement is false..

True statement is below⬇️

Net income is determined by preparing Income and Expenditure in case of persons practicing vocation.