HomeTestsSearchRankProfile

Guarantee Of Profit Questions

Practice 6 Guarantee Of Profit questions with detailed answers and explanations. Free MCQs, PYQs, and mock test questions for NEET, JEE, GATE, SSC and more.

📚
6
Total Questions
🟢
1
Easy
🟡
4
Medium
🔴
1
Hard
Practice by Exam:Accountancy(6)

About Guarantee of Profit — practice questions, PYQs & concepts

Guarantee of Profit is a frequently-tested topic on Accountancy. ExamTest.live currently lists 6 Guarantee of Profit questions spanning previous-year papers from 2026 to 2026, each with worked solutions and a step-by-step explanation. Use the filters on this page to focus on a specific exam, difficulty level or year — every answer key is free, no sign-up required.

Guarantee of Profit weight in competitive exams

Across our Guarantee of Profit question bank, the largest sources are Accountancy (6). Click any exam chip above to drill down to that exam-specific question set.

How to use this page

  • Start easy: 1 easy Guarantee of Profit questions are available — build fluency before moving up.
  • Target weak years: Use the year filter to focus on the most recent 2026 paper or older PYQs you have not attempted.
  • Time yourself: Every question shows the average solve time so you can benchmark your speed against other students.
  • Read every explanation: Even on questions you got right — the explanation often surfaces a faster approach you can reuse.

All Guarantee Of Profit Questions(1–6 of 6)

Filter:
Q1hardmcqAccountancyCUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3)2026
Kavita and Lalita are partners, sharing profits in the ratio of . They decide to admit Mohan for share in future profits with a guaranteed amount of . Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit-sharing ratio. The firm earned profits of for the year 2022–23. The deficiency borne by Kavita is:
Q2mediummcqAccountancyCUET Accountancy 2025 22 May Shift 22026
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:
Q3mediummcqAccountancyCUET Accountancy 2025 22 May Shift 22026
X and Y are partners sharing profits in the ratio . Z is entered into the business for share of profits, with the guarantee of minimum profits of ₹ 30,000. Profit earned by the business for the year ended March 31st, 2024 is ₹ 1,00,000. The amount of deficiency, if any, will be borne by:
Q4mediummcqAccountancyCUET Accountancy 2025 27 May Shift 22026
Vijay and Manohar share profits and losses in the ratio of . They admit Prakash as a partner with share in profits with a guarantee that his share of profit will be at least Rs. . The net profit of the firm for the year ending March 31, 2015, was Rs. . Calculate the amount of profit Vijay will get.
Q5mediummcqAccountancyCUET Accountancy 2025 30 May Shift 12026
Pinki, Deepti and Kaku are partners sharing profits in the ratio of . Kaku is given a guarantee that his share of profits in any given year would not be less than . Deficiency, if any, would be borne by Pinki and Deepti equally. Calculate the deficiency assumed by Pinki and Deepti for each case separately if profits for the year were:Case I - Case II -
Q6easymcqAccountancyCUET Accountancy 2025 30 May Shift 22026
The minimum guaranteed amount shall be paid to the new partner when his share of profit as per the profit sharing ratio:

Frequently Asked Questions

How many Guarantee Of Profit questions are on ExamTest.live?▼
We have 6 Guarantee Of Profit questions spread across 1 pages, covering easy, medium, and hard difficulty levels with detailed explanations.
Are Guarantee Of Profit MCQs free?▼
Yes. All Guarantee Of Profit questions, answers, and explanations on ExamTest.live are completely free. No account or subscription required.
Which exams include Guarantee Of Profit questions?▼
Guarantee Of Profit questions are commonly asked in Accountancy. You can filter by exam using the links above.
How do I practice Guarantee Of Profit questions effectively?▼
Start with easy questions to build confidence, then tackle medium and hard ones. Use the filter buttons to sort by difficulty. Reveal the answer only after attempting each question, and read the explanation thoroughly.