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In the case of a guarantee of profit, the sequence of steps to be followed is: (A) Divide the profit in the given ratio …

Q1

In the case of a guarantee of profit, the sequence of steps to be followed is:
(A) Divide the profit in the given ratio
(B) Prepare profit and loss appropriation account as usual
(C) Deduct the deficiency from the guaranteeing partner and add the same to the guaranteed partner
(D) Find the deficiency
Choose the correct answer from the options given below:

a

(A), (B), (C), (D)

b

(A), (B), (D), (C)

c

(B), (A), (D), (C)

d

(C), (B), (D), (A)

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