Steps involved in distribution of profit under minimum guarantee to partner will be…………..
i) Calculate the amount of deficiency
ii) Calculate distributable profit between/among the partners
iii) Distribute the amount of deficiency between/among the partners who have given the guarantee
iv) Calculate the actual share of profit of each partner
a) ii) iv) i) iii)
b) i) ii) iii) iv)
c) iii) ii) iv) i)
d) iv) iii) ii) i)
