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If an insolvent partner's capital account has debit balance of ten thousand rupees and he pays four thousand rupees, what is the deficiency?

Answer and explanation

Correct answer: ₹6,000

Out of ten thousand, four thousand is received, so deficiency is six thousand rupees. Only unpaid amount is deficiency.

Related tags

InsolvencyDeficiencyNumericalPartner AccountsDissolution Of A Partnership FirmAccountancyClass 12 Mcq

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