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Appropriation account

The section of the income statement (or profit and loss account) that shows how the profit has been distributed. In the accounts of limited companies it may include the following items: corporation tax, profit after tax, minority interest, dividends and retained profit. In contrast, the income statement (profit and loss account of a sole trader) stops at the ‘net profit’ figure. This is the sole trader’s income / earnings and is, therefore, taxed as such. There is no ‘Appropriation Section’.

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