Question : Which one of the following items will not come in the Profit and Loss Appropriation Account?
Option 1: Interest on partners capital
Option 2: Salary to partner
Option 3: Commission to partner
Option 4: Interest on loan to a partner
Answer (1)
25th Jan, 2024
Correct Answer: Interest on loan to a partner
Solution : Interest on loan to a partner will come in the Profit and Loss Account. Hence the correct option is 4.
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