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Is Profit and Loss appropriation account …

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Is Profit and Loss appropriation account particularly made for partners or firm??

  • 2 answers

Mrinal Kumar 6 years, 8 months ago

Final accounts is always prepared for Firm. The P&L appropriation account is nothing but distribution of final profit among partners and some profit is also diverted towards Reserves.

 

Mrinal Kumar 6 years, 8 months ago

Final accounts is always made for Firm. The P&L appropriation account is nothing but distribution of final profit among partners and some profit is also diverted towards Reserves.

 

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