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AP
Question Practice

If one partner guarantees another partner's profit and the firm makes losses, who bears the loss?

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 one partner guarantees anot...

Single Answer MCQ
Q-00082052

If one partner guarantees another partner's profit and the firm makes losses, who bears the loss?

1

Only the guaranteeing partner

2

All partners equally

3

Proportionately based on losses

4

The partner who was guaranteed

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What is a partnership and what are its chief characteristics?

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Q4.

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