The appropriation of profits can be done, in case _____________.

None of the above

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The partnership firm incur losses

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The partnership firm either earns a profit or incur losses

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The partnership firm earn profits

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Solution

The correct option is D
The partnership firm earn profits

There is a restriction on the appropriation of profits. The firm must earn profits for the appropriation of profit. There are no appropriations in case of losses.

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The appropriation of profits can be done, in case _____________.

The correct option is D The partnership firm earn profits There is a restriction on the appropriation of profits. The firm must earn profits for the appropriation of profit. There are no appropriations in case of losses.

The correct option is D
The partnership firm earn profits

There is a restriction on the appropriation of profits. The firm must earn profits for the appropriation of profit. There are no appropriations in case of losses.