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If reserve of five thousand rupees was omitted and profit was shared equally how much will be debited to each of two partners?

Answer and explanation

Correct answer: Two thousand five hundred rupees

Omission of reserve caused excess distribution of five thousand. Equally between two partners each received excess two thousand five hundred.

Related tags

Reserve OmissionNumericalPartner DebitAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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