Multiple Choice Questions on A B and C are partners A rsquo s capital is 3 00 000 and B rsquo s capital is rs1 00 000 C has not i........... for Commerce 12th Preparation

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Multiple Choice Questions

A B and C are partners A rsquo s capital is 3 00 000 and B rsquo s capital is rs1 00 000 C has not i...........

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    A, B and C are partners. A’s capital is ?3,00,000 and B’s capital is rs1,00,000. C has not invested any amount as capital but he alone manages the whole business. C wants 30,000 p.a. as salary. Firm earned a profit of 1,50,000. How much will be each partner’s share of profit:

    A 60,000; B 60,000; C Nil

    Incorrect Answer

    A 90,000; B 30,000; C Nil

    Incorrect Answer

    A 40,000; B 40,000 and C 40,000

    Correct Answer

    A 50,000; B 50,000 and C 50,000.

    Incorrect Answer
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    Explanation:

    - The firm has earned a profit of Rs 1,50,000.

    - C is entitled to a salary of Rs 30,000 for managing the business, leaving Rs 1,20,000 for distribution.

    - As nothing is mentioned regarding Profit sharing ratio, it will be equal 1:1:1

      Share of profit = 1,20,000/3 = 40,000 each

    By: santosh
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