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 X Opens in a new window Facebook 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 Sundry’ Creditors Rs. 2,50,000 and Bills Payable Rs. 35,000 have been transferred to the Credit side of Realisation Account. Sundry Creditors were paid at a discount of 10%. What would be the further treatment if nothing else is mentioned? September 27, 2022 Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) October 6, 2022 Should the bank overdraft be included in current liabilities? October 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Sundry’ Creditors Rs. 2,50,000 and Bills Payable Rs. 35,000 have been transferred to the Credit side of Realisation Account. Sundry Creditors were paid at a discount of 10%. What would be the further treatment if nothing else is mentioned? September 27, 2022
Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) October 6, 2022