JAMB Accounting 2023 Objective — Question 19

Question 19 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Profit and loss appropriation account is prepared by A.

A. Co-operative Society
B. Sole Proprietor
C. limited liability companyCorrect
D. none of the above

Explanation

Limited liability company and partnership prepare the profit and loss appropriation account to adjust for internal effects.

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