P1 C1 INTRODUCTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C1 INTRODUCTION OF PARTNERSHIP1 Mark
Question
Why profit and loss appropriation account is prepared?
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Answer
To show the distribution of profit or loss among the partners, profit and loss appropriation account is prepared. It is not compulsory to prepare profit and loss appropriation account.
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