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RP
Question Practice

If a partner’s drawings exceed their share of profit until retirement, what is the financial implication?

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
Reconstitution of a Partnershi...
Question Bank

If a partner’s drawings exceed...

Single Answer MCQ
Q-00082180

If a partner’s drawings exceed their share of profit until retirement, what is the financial implication?

1

A higher amount is due to the partner

2

A deduction from the amount due will occur

3

Drawings are ignored

4

An extra charge is applied to remaining partners

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Q1.

What are the different ways in which a partner can retire from a firm?

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Q3.

How will you compute the amount payable to a deceased partner?

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Q4.

Discuss the various methods of computing the share in profits in the event of death of a partner.

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