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what do you mean by profit and loss appropriation account ?
what is the use of preparing it?
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Answer / ashwin pawar
Part of the income statement (profit and loss account) that
explains how a firm's profit has been used to pay
dividends, and/or to increase reserves indicated in the
balance sheet. It states what happens to profit, instead of
how it was earned, and is usually shown separate from the
main statement.
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