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P L Appropriation Questions

Practice 12 P L Appropriation questions with detailed answers and explanations. Free MCQs, PYQs, and mock test questions for NEET, JEE, GATE, SSC and more.

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12
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6
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6
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Practice by Exam:Accountancy(10)CUET Accountancy(2)

About P&L Appropriation — practice questions, PYQs & concepts

P&L Appropriation is a frequently-tested topic on Accountancy, CUET Accountancy. ExamTest.live currently lists 12 P&L Appropriation questions spanning previous-year papers from 2026 to 2026, each with worked solutions and a step-by-step explanation. Use the filters on this page to focus on a specific exam, difficulty level or year — every answer key is free, no sign-up required.

P&L Appropriation weight in competitive exams

Across our P&L Appropriation question bank, the largest sources are Accountancy (10) and CUET Accountancy (2). Click any exam chip above to drill down to that exam-specific question set.

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All P L Appropriation Questions(1–12 of 12)

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Q1mediummcqCUET AccountancyCUET 2025 31 May Shift 12026
0% accuracy
Amitabh and Babul are partners sharing profits in the ratio of , with capitals of and respectively. Interest on capital is agreed @ p.a. Babul is to be allowed an annual salary of . Manager is to be allowed commission @ . Amitabh has also given a Loan on April 01 , 2019 of to the firm without any agreement. During the year 2019-20, the profits earned is . Profit and Loss Appropriation account shows balance of the Profit and Loss A/c (Net profit before Babul's salary) amounted to:
Q2mediummcqAccountancyCUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3)2026
, and are partners sharing profits in the ratio of . died on 1st July, 2023. On this date, final accounts were prepared to ascertain profits for the period. It resulted in a profit of to the firm. To give effect to the above:
Q3easymcqAccountancyCUET Accountancy 2025 13 May Shift 22026
For distributing profits made during a financial year among partners, which account is debited?
Q4mediummcqCUET AccountancyCUET Accountancy 2025 16 May Shift 12026
Identify which of the following expenses/allocations are classified as "Appropriations out of Profits" rather than charges against profits:(A) Rent paid to partners(B) Interest on capital(C) Salary paid to partners(D) Commission allowed to partnersChoose the correct answer from the options given below:
Q5easymcqAccountancyCUET Accountancy 2025 22 May Shift 12026
All adjustments in respect of partner's salary, partner's commission, interest on capital, interest on drawings, etc. are made through:
Q6mediummcqAccountancyCUET Accountancy 2025 22 May Shift 12026
Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of . Their fixed capitals on April 01, 2018 were: Yadu , Madhu and Vidu .As per the partnership deed, partners are entitled to interest on capital and Yadu has to be paid a salary of per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to . On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:
Q7easymcqAccountancyCUET Accountancy 2025 22 May Shift 22026
For distribution of profits among the partners, the following account is debited to allocate profits to the partners:
Q8mediummcqAccountancyCUET Accountancy2026
Which of the following is the correct journal entry to transfer a net profit (credit balance of the Profit and Loss Account) to the Profit and Loss Appropriation Account?
Q9easymcqAccountancyCUET Accountancy 2025 27 May Shift 22026
The Profit and Loss Appropriation Account is merely an extension of the Profit and Loss Account of the firm.Which among the following is NOT shown in the Profit and Loss Appropriation Account?
Q10mediummcqAccountancyCUET Accountancy 2025 30 May Shift 12026
The Partnership agreement between Maneesh and Girish provides that:(A) Profits will be shared equally(B) Maneesh will be allowed a salary of (C) Girish who manages the sales department will be allowed a commission of of the net profits after deducting Maneesh's salary(D) interest will be allowed on Partner's fixed capital(E) interest will be charged on partner's annual drawings(F) The fixed capitals of Maneesh and Girish are and respectively. Their annual drawings were and respectively.The net profit for the year ended March 31, 2018 amounted to . Calculate the profit allocated to each partner after all adjustments.
Q11easymcqAccountancyCUET Accountancy 2025 3 June Shift 22026
The Profit and Loss Appropriation Account is merely an extension of the Profit and Loss Account of the firm. Which among the following is NOT shown in the Profit and Loss Appropriation Account?
Q12easymcqAccountancyCUET Accountancy 2025 3 June Shift 22026
Which of the following accounts/statements is prepared to distribute the profit or loss among partners?

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We have 12 P L Appropriation questions spread across 1 pages, covering easy, medium, and hard difficulty levels with detailed explanations.
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P L Appropriation questions are commonly asked in Accountancy, CUET Accountancy. You can filter by exam using the links above.
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Start with easy questions to build confidence, then tackle medium and hard ones. Use the filter buttons to sort by difficulty. Reveal the answer only after attempting each question, and read the explanation thoroughly.