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Question
Match the following items:
| (i) | At the end of accounting period profit and loss suspense A/c is closed by transferring its balance to the | (a) | Profit and Loss A/с |
| (ii) | Balance of profit and loss A/c appearing in the balance sheet is transferred to | (b) | Profit and Loss Appropriation A/c |
| (c) | Capital A/cs |
Match the Columns
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Solution
| (i) | At the end of accounting period profit and loss suspense A/c is closed by transferring its balance to the | (a) | Profit and Loss A/с |
| (ii) | Balance of profit and loss A/c appearing in the balance sheet is transferred to | (c) | Capital A/cs |
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