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