{"id":58223,"date":"2024-04-16T01:15:46","date_gmt":"2024-04-16T01:15:46","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58223"},"modified":"2024-04-16T01:15:46","modified_gmt":"2024-04-16T01:15:46","slug":"x-y-and-z-are-partners-sharing-profit-and-loss-equally-their-capital-balances-on-31th-march-2012-are-rs-80000-rs-60000-and-rs-40000-respectively-their-personal-assets-are-worth-as-follows","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/x-y-and-z-are-partners-sharing-profit-and-loss-equally-their-capital-balances-on-31th-march-2012-are-rs-80000-rs-60000-and-rs-40000-respectively-their-personal-assets-are-worth-as-follows\/","title":{"rendered":"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 &#8211; Rs. 20,000, Y &#8211; Rs. 15,000 and Z &#8211; Rs. 10,000. The extent of their liability in the firm would be"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97466b0a0a6\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    X - Rs. 80,000, Y - Rs. 60,000, Z - Rs. 40,000                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    X - Rs. 20,000, Y - Rs. 15,000, Z - Rs. 10,000                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    X - Rs. 1,00,000, Y - Rs. 75,000, Z - Rs. 50,000                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Equal                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is B. X &#8211; Rs. 20,000, Y &#8211; Rs. 15,000, Z &#8211; <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n     <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>        Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> Rs. 10,000.<\/p>\n<p>The extent of a partner&#8217;s liability in a partnership is limited to the amount of their capital contribution. In this case, X, Y, and Z have capital balances of Rs. 80,000, Rs. 60,000, and Rs. 40,000, respectively. Therefore, their personal assets are not at risk in the event of the partnership&#8217;s insolvency.<\/p>\n<p>Option A is incorrect because it states that X, Y, and Z&#8217;s capital balances are Rs. 80,000, Rs. 60,000, and Rs. 40,000, respectively. However, their personal assets are worth Rs. 20,000, Rs. 15,000, and Rs. 10,000, respectively. Therefore, their capital balances are not equal to their personal assets.<\/p>\n<p>Option C is incorrect because it states that X, Y, and Z&#8217;s liability in the firm is Rs. 1,00,000, Rs. 75,000, and Rs. 50,000, respectively. However, their capital balances are only Rs. 80,000, Rs. 60,000, and Rs. 40,000, respectively. Therefore, their liability in the firm cannot be more than their capital balances.<\/p>\n<p>Option D is incorrect because it states that X, Y, and Z&#8217;s liability in the firm is equal. However, their capital balances are not equal. Therefore, their liability in the firm cannot be equal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>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<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/x-y-and-z-are-partners-sharing-profit-and-loss-equally-their-capital-balances-on-31th-march-2012-are-rs-80000-rs-60000-and-rs-40000-respectively-their-personal-assets-are-worth-as-follows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"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. 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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","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/x-y-and-z-are-partners-sharing-profit-and-loss-equally-their-capital-balances-on-31th-march-2012-are-rs-80000-rs-60000-and-rs-40000-respectively-their-personal-assets-are-worth-as-follows\/","og_locale":"en_US","og_type":"article","og_title":"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. 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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 &#8211; Rs. 20,000, Y &#8211; Rs. 15,000 and Z &#8211; Rs. 10,000. 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