Question:medium
Super profit refers to:
Super profit refers to:
Updated On: Mar 26, 2026
- Abnormal profits earned by the partnership firm
- Difference between Normal profit and profit as shown by Profit and Loss A/c
- Difference between Average adjusted profit and Normal profit
- Capital multiplied by Normal Rate of Return
Show Solution
The Correct Option is C
Solution and Explanation
The correct option is (C) :Difference between Average adjusted profit and Normal profit
Was this answer helpful?
0
Top Questions on Profit and Loss Account
- From the following details, calculate net profit before tax: Net Profit after tax = Rs. 50,000
15% Long-term debt = Rs. 12,00,000
Tax rate = 20%- CUET (UG) - 2025
- Accountancy
- Profit and Loss Account
Simar, Tanvi and Umara were partners in a firm sharing profits and losses in the ratio of 5:6:9. On 31st March, 2024 their Balance Sheet was as follows:
Umara died on 30th June, 2024. The partnership deed provided for the following on the death of a partner:
- CBSE Class XII - 2025
- Accountancy
- Profit and Loss Account
- Abhay and Sujoy entered into partnership on 1st April, 2024 with capitals of \u20b9 80,00,000 and \u20b9 60,00,000 respectively. The partners decided to share profits in the ratio of their capital contribution. They withdrew \u20b9 6,00,000 and \u20b9 4,00,000 respectively during the year. The partners were charged interest on drawings @ 10% per annum as per the provisions of the partnership deed. Abhay\u2019s share of profit was guaranteed by Sujoy at a minimum of \u20b9 3,50,000 per annum. The profit of the firm for the year ended 31st March, 2024 amounted to \u20b9 6,50,000. Prepare Profit and Loss Appropriation Account of the firm for the year ended 31st March, 2024.
- CBSE Class XII - 2025
- Accountancy
- Profit and Loss Account
- Sonia and Shruti were partners in a firm sharing profits and losses in the ratio of 5 : 3. On 1st April, 2023 the balance in their fixed capital accounts were \u20b9 25,00,000 and \u20b9 15,00,000 respectively. The profit of the firm for the year ended 31st March, 2024 was \u20b9 24,00,000. Calculate their share of profit if : (i) the partnership deed is silent as to the payment of interest on capital. (ii) the partnership deed provides for interest on capital @ 10% per annum.
- CBSE Class XII - 2025
- Accountancy
- Profit and Loss Account
- Want to practice more? Try solving extra ecology questions todayView All Questions