Question

What do you mean by charge against profit and charge on profit

Answer 1

Answer:

charge against profit means deduction of any amount from the firm's revenue to reach net profit or loss

Answer 2

Answer:

Hey mate here is your answer

Explanation:

It is a charge against profits in the profit and loss account. In the absence of a revaluation reserve, the full amount of this loss has been charged against profit.

Hope it's helpful for you