Question : Which one of the following items will not come in the Profit and Loss Appropriation Account?
Option 1: Interest on partners capital
Option 2: Salary to partner
Option 3: Commission to partner
Option 4: Interest on loan to a partner
Correct Answer: Interest on loan to a partner
Solution : Interest on loan to a partner will come in the Profit and Loss Account. Hence the correct option is 4.
Question : Which of the following items is not dealt with through a Profit and Loss Appropriation Account?
Option 1: Interest on partner's loan
Option 2: Partner's salary
Option 3: Interest on partner's capital
Option 4: Partners commission
Question : Which one of the following items cannot be recorded in the profit and loss appropriation account?
Option 1: Interest on capital
Option 2: Interest on drawing
Option 3: Rent paid to partner
Option 4: Partner's salary
Question : Pick the odd one out of the following:
Option 1: Rent to partners
Option 2: Manager's commission
Option 3: Interest on partner's loan
Option 4: Interest on partner's capital
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