Accounting · Partnership Accounts
According to the decision in Garner vs. Murray, if partners' capitals are fluctuating, the deficiency of an insolvent partner is shared by the solvent partners in which ratio?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Last agreed capital ratio
- 2Profit-sharing ratio✓
- 3Initial Capital ratio
- 4Fixed Capital ratio
Correct answer
Profit-sharing ratio
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