Question : Pick the odd one out of the following:
Option 1: Rent to partners
Option 2: Manager's commission
Option 3: Interest on partner's loan
Option 4: Interest on partner's capital
Correct Answer: Interest on partner's capital
Solution : Answer = interest on partner's capital Rent to partners, manager's commission, and interest on the partner's loan are transferred to the profit and loss account. Interest on the partner's capital is charged from the appropriation of profit transferred to the profit and loss appropriation account. Hence, the correct option is 4.
Question : Which of the following items is not dealt with through a Profit and Loss Appropriation Account?
Question : Which one of the following items will not come in the Profit and Loss Appropriation Account?
Question : Which one of the following items cannot be recorded in the profit and loss appropriation account?
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