CUET UGAccountsMCQ
Q40. A and B share profits and losses in the ratio of 2 : 1. They admit C as partner with 1/4 share in profits with a guarantee that his share of profit shall be at least ₹50,000. The net profit of the firm for the year ending March 31st, 2022 was ₹2,40,000. Determine C's share in profits.

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