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Commerce · Q1027

Accounting

Graduate and Post Graduate · Commerce · question 1027

Q1027

Gamer vs Murray rule requires

A.
that the solvent partners should bear the loss arising due to insolvency of a partner in their last agreed capital ratio
B.
that the solvent partners should bring in cash equal to their respective shares of the loss on realisation
C.
Both A and B
Answer
D.
None of the above

Answer: Option C

Solution

Answer: Option C
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