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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 partnera) ii) iv) i) iii) b) i) ii) iii) iv) c) iii) ii) iv) i) d) iv) iii) ii) i) |
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Answer» a) ii) iv) i) iii) |
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