Explain the accounting treatment for Profit Prior to Incorporation in Accounts.
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Explain the accounting treatment for Profit Prior to Incorporation in Accounts.
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Profit Prior to Incorporation PPI also known as Pre incorporation Profit refers to the profit earned by a business entity before it is formally incorporated as a legal entity This situation typically …View the full answer
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Chapter #
6- PROFITS PRIOR TO INCORPORATION...
Section: Long Questions
Problem: 1
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Question Posted: September 01, 2023 05:05:58