12th Class
Accountancy
Fundamentals of Partnership
Question Bank
MCQs - Accounting for Partnership Firm - Fundamentals
question_answer
X, Y and Z are partners sharing Profits & Loss in the Ratio of 4:3:2 with a capital of Rs.5,00,000 each. Salary of X Rs.15,000 p.a. and Z Rs.3,000 p.a. omitted and profit was distributed. After rectification Y will be credited/debited with:
A)4000 (Dr.)
B)Neither Debit nor Credit because Y's salary is not omitted