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Why should we prepare profit

Answer Posted / jay kuamr

In partnership firm "p\L A\C approciatoin" will prepare to
distribution of profit or loss

In corporated company prepare to adjust the suspence a\c
amount or transfer to next year it will happn in the case
of while preparing final accounts any difference will come
transfered to suspense a\c it will happen at that time
suspense amt will rectify with preparing p\L Appropriation
A\C

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