In the case of guarantee of profit, the sequence of steps to be followed are:(A) Divide the profit in the given ratio.(B) Prepare profit and loss appropriation account as usual.(C) Deduct the deficiency from the guaranteeing partner and add the same to guaranteed partner.(D) Find the deficiency.Choose the correct answer from the options given below:

The logical and chronological steps involved in accounting for a guarantee of profit to a partner are:Step 1 (B): Prepare the Profit and Loss Appropriation Account as usual to find the divisible profits.Step 2 (A): Divide the profit among all partners in their given profit-sharing ratio.Step 3 (D): Compare the calculated share of profit of the guaranteed partner with the guaranteed amount to find the deficiency, if any.Step 4 (C): Deduct the deficiency amount from the guaranteeing partner(s) and add it to the guaranteed partner's share.Hence, the correct sequence is (B), (A), (D), (C).