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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 sharing profits in 3:2. They are entitled to interest on their capitals but the net profit was not sufficient for this interest, then the net profit will be distributed among partners in:

    A) Ratio of Appropriation (Ratio of Interest on capital payable to them)

    B) Agreed Ratio

    C) Equally

    D) Profit Sharing Ratio 3:2

    Correct Answer: A

    Solution :

    Ratio of Appropriation (Ratio of Interest on capital payable to them)


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