Can a partner be exempted from sharing the losses in a firm? If yes, under what circumstances? Post category:Accountancy Reading time:1 mins read SOLUTION Yes, if all partners agree that one or more of them shall not bear the losses. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostGive the adjusting entry and the closing entry for recording commission allowed to a partner, when the firm follows the fixed capital method. (I.S.C. 2015) Next PostWhy is it that the Capital Account of a partner does not show a “Debit Balance’’ inspite of regular and consistent losses year after year? You Might Also Like What is meant by Employee Stock Option Wan? (C.B.S.E. Sample Paper, 2019) September 28, 2022 Ashok, Babu and Chetan are in partnership sharing profit in the proportion of 1/2, 1/3, 1/6 respectively. They dissolve the partnership of the 31st March, 2019 when the Balance Sheet of the firm as under: July 26, 2022 How share application money pending allotment will be shown in a Company’s Balance Sheet? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.