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

  • question_answer
    X and Y are partners in a firm. X is to get a commission of 10% of net profit before charging any commission. Y is to get a commission of 10% on net profit after charging all commissions. Net profit before charging any commission was Rs.55,000. Commission of Y will be:                                                                                                             [CBSE Modified]

    A) 5,500

    B) 5,000

    C) 4,500

    D) 4,950

    Correct Answer: C

    Solution :

    4,500


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