The account where the profit are distributed to the partner in their profit sharing ratio...

Accounts - Principles of Accounts

JAMB 2017

The account where the profit are distributed to the partner in their profit sharing ratio in partnership

A. trading account
B. appropriation account
C. balance sheet
D. profit and loss account

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Correct Answer: Option B

Explanation

Appropriation account is the account into which the net profit found in the profit and loss account of the partner will be carried down to and will be shared according to their sharing ratio

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The account where the profit are distributed to the partner in their profit sharing ratio...

Correct Answer: Option B

Explanation

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