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AP
Question Practice

If a firm guarantees a partner a minimum profit, what must the guaranteeing partners do if profits are lower?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Accounting for Partnership: Ba...
Question Bank

If a firm guarantees a partner...

Single Answer MCQ
Q-00082084

If a firm guarantees a partner a minimum profit, what must the guaranteeing partners do if profits are lower?

1

Charge the excess to the next period

2

Make good the deficiency in agreed ratio

3

Increase the salaries of other partners

4

Decrease the capital contributions

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