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If the deed fixes the accounting year as April to March for which period will the Profit and Loss Appropriation Account be prepared?

Answer and explanation

Correct answer: April to March

When the accounting year is fixed in the deed the appropriation account is prepared for that period. Changing it needs consent.

Related tags

Accounting YearAppropriation AccountDeedPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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