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Appropriation and adjustment accounts
What's the difference between P/L Appropriation and P/L Adjustment.Account...? And when are they prepared..?
Replies (2)
P&L Adj. A/c is prepared to rectify the errors found when the books of that year have been closed and P&l Appropriation A/c is prepared after preparing P& L A/c to appropriate the profit to reserves, owners etc
Thanks...a lot..ma'am..!!
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