Question

1 point
15) For transfer of Profit from
Profit and Loss Appropriation
account to Reserve account,
which account to be credited?​

Answer 1

Explanation:

your answer is here

Profits are an important part of a business so as its allocation. That is why the Profit and Loss Appropriation Account is an important part of an organization. Profit and Loss Appropriation Account is necessary for businesses, especially partnerships because they help to allocate the net of expenditures and incomes among the various partners. Now let’s discuss various facts about the Profit and Loss Appropriation A/c.

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