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If the deed says partner salary is payable only when profit is available and profit is less than salary what is the general treatment?

Answer and explanation

Correct answer: Pay proportionately up to available profit or as deed says

The condition of available profit limits salary. If profit is low payment is made according to deed order or proportion.

Related tags

Partner SalaryInsufficient ProfitDeed ConditionPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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