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प्रश्न
Which of the following items is not dealt with through Profit and Loss Appropriation Account?
विकल्प
Interest on Partner’s Loan
Partner’s Salary
Interest on Partner’s Capital
Partner’s Commission
MCQ
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उत्तर
Interest on Partner’s Loan
Explanation:
Interest on Partner’s Loan is not dealt with through the Profit and Loss Appropriation Account because it is a charge against profit. It is debited to the Profit and Loss Account and is payable even if there is a loss.
However, Partner’s Salary, Interest on Partner’s Capital, and Partner’s Commission are appropriations of profit and are recorded in the Profit and Loss Appropriation Account.
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