An item that would be considered a first charge against p...
An item that would be considered a first charge against profit in a company's account is
Ordinary dividend
Preference dividend
Capital reserve
General reserve
Correct answer is B
Preference dividend is a dividend that is allocated to and paid on a company's shares. If a company is unable to pay all dividends, claims to preferred dividends take precedence over claims to dividends that are paid on common basis.
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