Question : A Profit and Loss Appropriation Account is prepared to

Option 1: Distribute the profit and loss for the year among the partners.

Option 2: Settle the dispute among the partners.

Option 3: Determine the profit remaining for distribution for the year after appropriation.

Option 4: Distribute the profit for the year among the partners.

Question : A Profit and Loss Appropriation Account is prepared to

Option 1: Distribute the profit and loss for the year among the partners.

Option 2: Settle the dispute among the partners.

Option 3: Determine the profit remaining for distribution for the year after appropriation.

Option 4: Distribute the profit for the year among the partners.

Question : -----------------account is prepared at the time of dissolution.

Option 1: profit and loss appropriation account

Option 2: profit and loss adjustment account

Option 3: realisation account

Option 4: profit and loss account

Question : -----------------account is prepared at the time of dissolution.

Option 1: profit and loss appropriation account

Option 2: profit and loss adjustment account

Option 3: realisation account

Option 4: profit and loss account

Question : Increases and decreases in the value of assets and liabilities are recorded through

Option 1: Profit and loss account 

Option 2: Profit and loss appropriation account 

Option 3: Partners capital account

Option 4: Revaluation account

Question : Where is Interest on drawings shown in the final accounts of the firm?

Option 1: Debit side of profit and loss Appropriation Account.

Option 2: Credit side of profit and loss Appropriation Account.

Option 3: Credit side of profit and loss Account.

Option 4: Debit side of capital or current account only.