what do you mean by profit and loss appropriation account ?
what is the use of preparing it?
Answer Posted / 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.
Is This Answer Correct ? | 10 Yes | 3 No |
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