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Explain the nature of profit and …

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Explain the nature of profit and loss appropriation account in terms of modern rules of debit and credit
  • 2 answers

Preeti Sihag 4 years, 7 months ago

Nominal a/c...Dr...all expenses and losses Cr...all incomes and gains

Himanshu Jha 4 years, 7 months ago

All expenses and losses are debited and any gain is credited in profit and loss account .
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