Question : On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners -
Option 1: In capital ratio
Option 2: In Profit sharing ratio
Option 3: Equally
Option 4: None of the above
Answer (1)
25th Jan, 2024
Correct Answer: In Profit sharing ratio
Solution : The Profit Sharing Ratio should be used to allocate the profit or loss from Realisation among the partners.
Hence the correct answer is option 2.
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