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Partnership Act - IV
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The surplus of Rs. 90,000 on dissolution after paying off the liabilities and debts of the partnership firm the remaining amount is distributed among partners in their profit sharing ratio.
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A
True
💡 Explanation:
Under partnership law, any surplus remaining after paying all liabilities and debts on dissolution is distributed among partners in their profit-sharing ratio. This is the standard procedure - partners share in gains just as they share in losses.