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Questions
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Target Exam
CUET
Subject
Accountancy
Chapter
Admission of a Partner
Question:
Profit of a partnership firm is ₹160000; it includes abnormal gain of ₹20000. Find out the correct normal profit of the year?
Options:
₹140000
₹180000
₹120000
₹160000
Correct Answer:
₹140000
Explanation:
Correct normal profit = 160000- 20000 = ₹140000
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