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If the deed has no provision for partner commission what will be the treatment of commission in adjustment?

Answer and explanation

Correct answer: Commission will not be allowed

Partner commission is allowed only when the deed provides it. If deed is silent it is not deducted from profit.

Related tags

Deed SilentPartner CommissionAdjustmentAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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