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Class 12 Accountancy Partnership Accounts - Basic Concepts AdjustmentsMedium

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Which statement is most correct for final checking after adjustments?

Answer and explanation

Correct answer: Match double effect of every adjustment and ratio of remaining profit

Every adjustment has one debit and one credit effect. Finally remaining profit or loss must be shared in correct ratio.

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Final Check Double Effect Adjustments Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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