Advertisements
Advertisements
Question
Do all forms of business organisations prepare a Profit and Loss Appropriation Account?
Short Answer
Advertisements
Solution
No, only partnership firms prepare a Profit and Loss Appropriation Account. This account is used to distribute the profits among the partners, accounting for items like interest on capital, salary to partners, and the division of profits according to the profit-sharing ratio.
shaalaa.com
Is there an error in this question or solution?
