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

  • question_answer
    Capital employed by a partnership firm is Rs.5,00,000. Its average profit is Rs.60,000. The normal rate of return is similar type of business is 10%. The amount of super profit is:

    A) Rs.50,000            

    B) Rs.10,000

    C) Rs.6,000               

    D) Rs.56,000

    Correct Answer: B

    Solution :

    [b] Rs.10,000
    Normal Profit = 5,00,000 \[\times \] 10% = Rs.50,000
    = Profit = 60,000 - 50,000 = Rs.10,000
     


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