Question

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

Answer 1

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Your Answer:-

TRUE


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Answer 2

• 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.