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
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.
Question : Which of the following items is not dealt with through a Profit and Loss Appropriation Account?
Question : Which one of the following items cannot be recorded in the profit and loss appropriation account?
Question : Pick the odd one out of the following:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile