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Numerical Example of Share Capital

Apprentice pr...

Question

Apprentice premium is credited to __________.

A

Trading account

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B

Profit and Loss account

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C

Drawing account

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D

None of the above

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Solution

The correct option is B Profit and Loss account
Apprentice Premium is the amount charged from the person whom training is imparted by the business. So it is an income and credited to P & L Account.

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