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  3. 12th Class
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  5. Fundamentals of Partnership

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

  • question_answer
    If a firm gives guarantee to partner and in same way partner give guarantee to firm. So, these are two guarantees in same year. This guarantee, given by firm to partner and partner to firm is called:

    A) guarantee by firm

    B) guarantee by partner

    C) simultaneous guarantee

    D) None of the above

    Correct Answer: C

    Solution :

    [c] simultaneous guarantee


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