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Question 1. Asked on :06 October 2020:12:07:51 PM

Write the features of Profit and Loss Appropriation Account?

-Added by nisha sheikh Accountancy » Accounting For Partnership Firms: Fundamentals


nisha sheikh
Features of Profit and Loss Appropriation Account:

  1. It is an extension of the Profit and Loss Account.
  2. It is prepared only by the partnership Firms.
  3. It shows the appropriation of Net Profit or Loss for the Accounting period.
  4. Entries in this account are passed giving effect to the Partnership Deed.

-Answered by nisha sheikh On 07 October 2020:11:08:32 AM(20868Average Rating Based on rating)


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