P and Q are partners sharing profits in the ratio of 1 : 2. R was manager who received the salary of ₹10,000 p.m. in addition to commission of 10% on net profits after charging such commission. Total remuneration to R amounted to ₹1,80,000. Profit for the year before charging salary and commission was :

🎲 Try a Random Question  |  Total Questions in Quiz: 124  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
MCQs for Accounting for Partnership Firms — practice the complete quiz, review flashcards, or try a random question.


P and Q are partners sharing profits in the ratio of 1 : 2. R was manager who received the salary of ₹10,000 p.m. in addition to commission of 10% on net profits after charging such commission. Total remuneration to R amounted to ₹1,80,000. Profit for the year before charging salary and commission was :






ADVERTISEMENT