Why should we prepare profit
Answer Posted / gopal kumar bhagat
ACCORDING TO COMPANIES ACT,1956,a p/l appropriation a/c is prepared to show how the net profit or loss of the company is distributed among various areas such as general reserve aprox(20%of net profit),interim dividend,provision for taxation,etc,and also p/l appropriation gives knowledge to general public about the areas in which net profit of the company is distributed which make them interested to invest in their shares....
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