Practicing Success
Practicing Success
CUET Preparation Today
| When the appropriation of profits will be done by a partnership firm? |
Before making P& L account After making P & L account After accounting of all charges is done Both option 2 and 3 |
| Both option 2 and 3 |
| Appropriation of profit is the distribution of profit between partners which can be done after finding out net profit and net profit can be known by preparing P & L account. Any item which is charge against profit is debited to P & L account. So, after accounting of all charges is done only then appropriation can be done. |
