A Profit and Loss Appropriation Account is prepared:

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Economics · Partnership Accounts

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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when a portion of the profits is retained or specifically appropriated

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Answer 1

when the entire profit is distributed to owners

Answer 2

when there is no profit in the business

Answer 3

when a portion of the profits is retained or specifically appropriated

Answer 4

when a merger and acquisition takes place

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