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If reserve was created excess by five thousand rupees and profit was shared equally how much will each of two partners be credited?

Answer and explanation

Correct answer: Two thousand five hundred rupees

Removing excess reserve increases profit by five thousand. Each of two partners is credited by two thousand five hundred.

Related tags

Excess ReserveEqual SharingNumericalAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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