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On which side does net profit transferred from Profit and Loss Account start in Profit and Loss Appropriation Account?

Answer and explanation

Correct answer: Credit side

Net profit starts on the credit side of appropriation account. Then salary interest and other appropriations are deducted.

Related tags

Net ProfitAppropriation AccountCredit SideProfit DistributionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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