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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm - Fundamentals

  • question_answer
    Ram, Shyam and Mohan are partners sharing profits in the ratio of 2:2:1. Mohan is guaranteed that his share of profit will not be less than Rs.50,000. Any deficiency will be borne by Ram and Shyam equally. The profit of the firm for the year ending was Rs.2,00,000. What will be the share of Shyam?

    A) 80,000

    B) 85,000

    C) 75,000

    D) 70,000

    Correct Answer: C

    Solution :

    75,000


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