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AP
Question Practice

If a guaranteed partner receives more than the profit guarantee in a year, how is this treated in subsequent years?

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 guaranteed partner receiv...

Single Answer MCQ
Q-00082058

If a guaranteed partner receives more than the profit guarantee in a year, how is this treated in subsequent years?

1

It reduces their guarantee for future years.

2

It does not affect future guarantees.

3

It is paid back to the partnership.

4

It is split among other partners.

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