CUET Preparation Today
| Profit and Loss appropriation account is which type of account? |
A nominal account A real account A personal account None of the above |
| A nominal account |
| It is prepared after the preparation of profit and loss a/c at the end of every financial year. The purpose is to allow the adjustments to be made to the profits so that the final income can be divided among the partners per the agreed terms. It is a nominal account. |
