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X Y and Z are partners sharing profit and loss equally...

This question belongs to Commerce Accounting
Accounting
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X, Y and Z are partners sharing profit and loss equally. Their capital balances on 31th March 2012 are Rs. 80,000, Rs. 60,000 and Rs. 40,000, respectively. Their personal assets are worth as follows: X - Rs. 20,000, Y - Rs. 15,000 and Z - Rs. 10,000. The extent of their liability in the firm would be

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Correct Answer: Option B
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