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AP
Question Practice

What happens if a guaranteed partner's profit exceeds the actual profits?

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

What happens if a guaranteed p...

Single Answer MCQ
Q-00082046

What happens if a guaranteed partner's profit exceeds the actual profits?

1

The extra profit is forfeited

2

No adjustment is made

3

The excess is paid from the partners' capital

4

The guaranteed partner pays back the excess

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