Home  >  Class 12 Accountancy  >  Accounting For Partnership Firms (MCQs)

M and N are partners having capitals of ₹50,000 and ₹1,00,000 respectively. On 1 April 2020, P was admitted with a capital of ₹2,00,000. At the end of the year 2020, the firm earned a profit of ₹30,000. How should the profits be distributed among partners, if there is no partnership deed?

🎲 Try a Random Question  |  Total Questions in Quiz: 155  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Accounting For Partnership Firms (MCQs) — practice the complete quiz, review flashcards, or try a random question.
🧠 Flashcards (fast review) 🧪 Practice Quiz ⚔️ Challenge a Friend 🥊 📊 View Stats

M and N are partners having capitals of ₹50,000 and ₹1,00,000 respectively. On 1 April 2020, P was admitted with a capital of ₹2,00,000. At the end of the year 2020, the firm earned a profit of ₹30,000. How should the profits be distributed among partners, if there is no partnership deed?






ADVERTISEMENT
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.