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plz. tell me differance
please tell me somebody that what is the differance between profit & loss a/c and profit & loss appropriation ?
Replies (1)
When We Calculate Profit or loss for the period by debiting expenses and creditig income, it is called profit and loss account
On the other hand when we distribute or set aside any of the profits, it is done through Profit and loss appropriation account
All the best
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