Sudhir and Vimal came into partnership with profit sharing ratio of 3 : 2. Due to paucity of time, Sudhir was unable to give time to business so Vimal acted as principle and took all financial and operational decisions. Due to break down of Covid 19, business suffered a loss of 4,00,000. State the amount of loss to be borne by Sudhir.

Question

Option 1: Rs. 2,00,000

Option 2: Rs. 2,40,000

Option 3: None, as he was not working actively

Option 4: Rs. 1,60,000

AfterBoards · Accepted Answer

The answer is 'Rs. 2,40,000'. View full solution:

List - I	List - II
(A) Interest on loan	(I) Current Account
(B) Fixed capital	(II) Charge Against Profit
(C) Fluctuating capital	(III) Capital Account
(D) Interest on capital	(IV) Appropriation of Profit

List-I	List-II
(A) Admission of a New Partner	(I) Realisation Account
(B) Retirement of a Partner	(II) Sacrificing ratio
(C) Dissolution of Partnership	(III) Executors Account
(D) Death of A Partner	(IV) Gaining Ratio

CUET Accountancy 2022 23 Aug Shift 2 PYQs

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