Question

What do Mean by Guarantee of Profit..❤❤❤❤❤

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Answer 1

Answer:

Explanation:

Guarantee Of Profits To A Partner. ... If actual share in profits is less than the guaranteed amount in that case the deficit amount shall be borne either by the firm or by any partner as the case may be. Note: Guarantee to a partner is given for minimum share in profits.

Answer 2

Guarantee means the surety of a particular amount of profits by one or more partners and in some cases by the firm, where the burden of guarantee is borne by the party providing such a guarantee.