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Question
Guarantee of profit to a partner is given by:
Options
Only one partner of the firm
Only two partners of the firm
All the partners of the firm
All of the above
MCQ
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Solution
All of the above
Explanation:
One or more partners, or the firm, provide a profit guarantee to one or more partners. Even if there is a loss, the guaranteed amount is paid.
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Distribution of Profit Among Partners
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