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

  • question_answer
    A manager gets 5% commission on net profit after charging such commission, gross profit Rs.2,90,000 and expenses of indirect nature other than manager’s commission are Rs.80,000. Commission will be:

    A) Rs.10,500                     

    B) Rs. 10,000                                                                                                        

    C) Rs. 7,500                        

    D)   Rs. 11,000

    Correct Answer: B

    Solution :

    [b] Rs.10,000
    Hint: Manager's Commission = (2,90,000 - 80,000) \[\times \frac{5}{105}\] = Rs. 10,000
     


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