21. The purpose of preparation of Profit and loss appropriation account is: a. To know the balance of goodwill of each partner b. To know the share of profit or loss of each partner c. To know the balance of capital of each partner d. To know the balance of drawings of each partner

Answer - P&L Appropriation Account is basically prepared to show the appropriation or…

Answered: 21. The purpose of preparation of Profit and loss appropriation account is: a. To know the balance of goodwill of each partner b. To know the share of profit or…

FINANCIAL ACCOUNTING

10th Edition

ISBN: 9781259964947

Author: Libby

Publisher: MCG

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21. The purpose of preparation of Profit and loss appropriation account is:

To know the balance of goodwill of each partner

To know the share of profit or loss of each partner

To know the balance of capital of each partner

To know the balance of drawings of each partner

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