O-LevelAccountingPreparation of financial statements7707/11 · May/June 2022 · Q231 Mark
What is the purpose of preparing a partnership appropriation account?
Ato calculate the interest to be charged on the drawings made by each partner
Bto calculate the interest to be paid on the capital invested by each partner
Cto show the amount of salary to which each partner is entitled
Dto show the division of the profit or loss for the year between the partners
✓ Correct answer
D: to show the division of the profit or loss for the year between the partners
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