Accountancy, asked by suriyapriya, 1 month ago

difference between profit and loss a/c and profit and loss appropriation a/c​

Answers

Answered by madhumitha4687
4

P&L account is used to determine Net Profit or Net Loss of an organization for a given accounting period. P&L appropriation account is used for allocation and distribution of Net Profit among partners, reserves and dividends. P&L account is prepared by all types of businesses.

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