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AP
Question Practice

When preparing a Profit and Loss Appropriation Account, which adjustment is made if interest on drawings is charged?

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MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Accounting for Partnership: Ba...
Question Bank

When preparing a Profit and Lo...

Single Answer MCQ
Q-00081967

When preparing a Profit and Loss Appropriation Account, which adjustment is made if interest on drawings is charged?

1

Debited to the Interest on Drawings A/c

2

Credited to the partners' capital accounts

3

Recorded as an expense in the income statement

4

Ignored in calculations

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