A. credited to the trading account
B. debited to the Profit and Loss Account
C. credited to the Profit and Loss Account
D. credited to the Appropriation Account
Correct Answer:
Option C – credited to the Profit and Loss Account
Significance Of Budgeting In An Educational Institution
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Management Accounting And Functions
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Basic Accounting Conventions
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Qualities And Objectives Of Financial Accounting
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Basic Accounting Conventions
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