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

  • question_answer
    A, B and C are partners sharing profits in 3 : 2 ; 1 ratio. C was guaranteed that he will get minimum of Rs.20,000 as his share of profit every year. Firm's profit was Rs.90,000. Any deficiency in C profit will be compensate by A and B in the ratio of 4:1. A's share of Profit after meeting deficiency will be:

    A) 40,000

    B) 45,000

    C) 41,000 

    D) 44,000

    Correct Answer: C

    Solution :

    41,000


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