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The unfavorable balance of Profit and Loss account should be
- AAdded to liabilities
- BSubtracted from current assets
- CSubtracted from capital
- DSubtracted from liabilities
Correct answer: C
Discussion 1
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CCommunity
Subtracted from capital
Loss is subtracted from capital account and profit is added to capital account.
Loss is subtracted from capital account and profit is added to capital account.