Practice question

MCQ

Question

Ram, Raghav and Raghu are partners in a firm sharing profits in the ratio of 5 : 3 : 2. As per partnership deed, Raghu is to get a minimum amount of ₹ 10,000 as profit. Net profit for the year is ₹ 40,000. Calculate deficiency (if any) to Raghu.

Options

Choose one · Correct answer highlighted

₹ 750 ₹ 2,000 Correct ₹ 1500 None of these

Explanation

Partnership deed includes firm name, partners names, commencement date, profit sharing ratio.

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