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If no amount is received from an insolvent partner how is his capital deficiency settled?

Answer and explanation

Correct answer: Borne by solvent partners as per rule

The deficiency of an insolvent partner is borne by solvent partners as per applicable rule. Choose the ratio according to the rule in exams.

Related tags

DissolutionInsolvent PartnerDeficiencyPartner AccountsDissolution Of A Partnership FirmAccountancyClass 12 Mcq

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