Accountancy, asked by c2halikAditiMisharb, 1 year ago

what is garner vs murray decision ?

Answers

Answered by AlbusPercival

According to Garner vs Murray Rule:
The loss on account of insolvency of a partner is a CAPITAL loss which should be borne by the solvent partners in the ratio of their capitals standing in the balance sheet on the date of dissolution of the firm.

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