Accounting · Partnership Accounts
A Profit and Loss Appropriation Account is prepared:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1when a merger and acquisition takes place
- 2to show the distribution and retention of profits among partners/owners✓
- 3when there is no profit in the business
- 4when the entire profit is distributed to owners
Correct answer
to show the distribution and retention of profits among partners/owners
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