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

  • question_answer
    A, B and C started a business in partnership on 1st October 2020. Their profit sharing ratio was decided 3 : 2 : 1. A has given guarantee to C for a minimum profit of Rs.6,000 yearly. Profit at the end of the year 31st March 2021, was Rs.12,000. A's share of profit after deficiency will be:

    A) 6,000 

    B) 5,000

    C) 4,000 

    D) 3,000

    Correct Answer: B

    Solution :

    5,000


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