define p&l approprate
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Answer / ramesh_ca1707
It means that any profit which can be arise after meeting
all operation obligations,that profit can be distributed to
the shareholders.
This account will shows how the profit will be allocate or
apportioned to the different obligations
1.profit distributed to the shareholders (equity and
preference)
2.Transfer to the General Reserve.
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Answer / rahul kashyap
It is just a statement not a formal account and it is not a
part of financial statements of a company.
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