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AP
Question Practice

Which of the following is necessary to determine profit sharing when a partner is made a guarantee?

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

Which of the following is nece...

Single Answer MCQ
Q-00081973

Which of the following is necessary to determine profit sharing when a partner is made a guarantee?

1

Prior investments by partners

2

Agreed minimum share allocation

3

Projected future profits

4

Historical capital contributions

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What is a partnership and what are its chief characteristics?

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What is the primary purpose of a partnership deed?

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Q4.

If a partnership deed is silent on the profit-sharing ratio, how should profits be shared?

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