How is profit prior to incorporation treated as
Asked by admin @ in Accountancy viewed by 553 People
How Is Profit Prior To Incorporation Treated As
Answered by admin @
Explanation:
Thus, any profit/loss made before the incorporation is known as “Profit (Loss) Prior to Incorporation” which is treated as a capital profit and the same cannot be distributed as business profit. ... The same is to be transferred to Capital Reserve or may be adjusted against Goodwill.
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