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

  • question_answer
    A, B and C are partners in a firm without any agreement. They have contributed Rs.5,00,000, Rs.2,50,000 and Rs.2,50,000 by way of capital in the firm. A was unable to work for six months in a year due to illness. At the end of year, firm earned a profit of 1,20,000. A's share in the profit will be:                                                                                            [CBSE 2019 C Modified]

    A) 20,000

    B) 40,000

    C) 60,000  

    D) 30,000

    Correct Answer: B

    Solution :

    40,000


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