Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:
X, Y & Z are partners in a firm sharing profits in ratio of 4:2:1. Z has a guaranteed profit of ₹37500. In which ratio other partners will borne deficiency if firm suffers loss?
Options:
1:1
2:1
1:2
3:2
Correct Answer:
2:1
Explanation:
Since no specific ratio of deficiency is given, partners shall bear deficiency in their profit-sharing ratio, i.e., 4:2 means 2:1.