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Answer of class 12th ISC board accounts

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How will a firm deal with a situation when its partnership deed provides for interest on capital, but the profit
earned by it is not enough to do so at the rate mentioned in the deed?
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1 Answer

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When partnership deed provides for interest on capital but the profit to be earned buy the firm is not enough to do so, then profit is distributed in the ratio of interest on capital of each partner instead profit sharing ratio.

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