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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. They have provided the following information: Manager salary = 20,000 per Quarter Manager commission = 10% of the profit after charging such commission Total Remuneration (Salary + commission) to manager = 1,40,000 Profit for the year before charging salary & commission was:

    A) 8,00,000 

    B) 6,80,000

    C) 7,40,000

    D) 6,60,000

    Correct Answer: C

    Solution :

    7,40,000


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