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If debit and credit totals of appropriation account are not equal after distributing final profit what is the most likely reason?

Answer and explanation

Correct answer: Some appropriation item or second effect is missing

Appropriation account should balance after distributing final profit or loss. If difference exists find omitted or reversed item.

Related tags

Appropriation AccountError CheckBalancingProfit DistributionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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