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

  • question_answer
    A, B and C are partners in the ratio of 5 : 3 ; 2. A has given guarantee to C for a minimum profit of Rs.7,000 p.a. for the year ending 31st March 2021, B's share of profit is Rs.9,000. A's share of profit after meeting deficiency will be:

    A) 15,000

    B) 14,000

    C) 700 (Loss)

    D) 4,500

    Correct Answer: B

    Solution :

    14,000


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