Accountancy, asked by Tushar7260, 1 year ago

Debit balance of insolvent Partner's Capital A/c is known as Capital Deficiency. (State True or False)

Answers

Answered by ShreyaSingh31
2
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Your Answer:-

TRUE


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Answered by dreamrob
0

• The debit balance of the insolvent partners' capital account is known as capital efficiency.

The above statement is true.

• Because of this deficiency is to be overcome by all the solvent partners in their profit sharing ratio.

• Insolvent partner means who's personal investments are less than his personal deformities.

• A partner has a debit balance in his own capital account at the point of final cash allotment it is called capital deficiency.

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