A Solvent partner having debit balance to his Capital Account does not share the deficiency of Insolvent Partner's Capital Account. (State True or False)
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HEY...
I THINK
FALSE IS THE ANSWER
I THINK
FALSE IS THE ANSWER
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Answer:
True
Explanation:
A Solvent partner having debit balance to his Capital Account does not share the deficiency of Insolvent Partner's Capital Account. - True
Capital deficiency is called the debit equilibrium of the capital account of an insolvent partner that can not be satisfied owing to absence of excess balance. All solvent partners shall bear this deficiency in their profit-sharing ratio.
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