profit-and-loss appropriation account

profit-and-loss appropriation account

an account that shows how any NET PROFIT recorded in the PROFIT AND LOSS ACCOUNT is divided between TAX payments, DIVIDEND payments and RESERVES.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson