Question

what is meaning of charge against profit​

Answer 1

Charge against profit means the deduction of any amount from the firm's revenue to reach Net Profit or Loss. Appropriation of Profit is the distribution of Profit. Hence, the Profit and Loss Account is prepared. Hence, the Profit and Loss Appropriation Account is prepared.

Answer 2

Charge against profit means the deduction of any amount from the firm's revenue to reach Net Profit or Loss. Appropriation of Profit is the distribution of Profit. Hence, the Profit and Loss Account is prepared. Hence, the Profit and Loss Appropriation Account is prepared.