Q1472
When capitals of partners are fluctuating, then in the case of dissolution of the firm, the deficiency of the insolvent partner's capital is borne by the solvent partners according to Garner Vs. Murrary decision:
A.
In their profit-sharing ratio
B.
In the ratio of their capitals as they stood before the commencement of dissolution
C.
In the ratio of their capitals arrived at after the adjustment of accumulated profit & loss on realisation but before profit and loss on realisation
AnswerD.
In the ratio of their capital arrived at after the adjustment of accumulated profit & loss and profit & loss on realisation
Answer: Option C
Solution
Answer: Option C
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