Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans When interest on capital is allowed to partners, Interest on Capital Account is debited and Partner’s Capital Account is credited, it is called 1.00K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Interest on Partners’ Drawings is credited to 867 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Define Partnership 929 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Distinguish between ‘Fixed Capital Account’ and Fluctuating Capital Account’ on the basis of credit balance. 889 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is meant by ‘Fluctuating Capital’ of a Partner? 1.09K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is Meant by ‘Fixed Capital’ of a Partner? 915 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans X and Y are partners. y wants to admit his son K into business. Can K become the partner of the firm without the consent of X? 1.27K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Why is it considered better to make a partnership agreement in writing? 1.06K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Adil, Bhavya, and Chris are partners sharing profits in the ratio of 5:4:1. Chris is given a guarantee that his share of profit in any year will not be less than ₹ 5,000. The deficiency in the profit share of Chris will be borne by Bhavya. 3.04K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Choose the correct sequence of the following transactions in the context of the Division of Profits: 1.09K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Neha, a partner, owns a building from where the firm carries its business. The firm pays her ₹ 10,000 as the rent for the building. Will it be transferred to Profit & Loss Account or Profit & Loss Appropriation Account? Why? 2.33K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is a Partnership Deed? 1.02K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Does a partner has the right not to allow admission of a new partner if the Partnership Deed does not exist? 906 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Is there any restriction on the maximum number of partners? if yes, name the act under which it is prescribed. 1.08K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans A group of 40 People wants to form a Partnership Firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the act under whose provisions it is given. 1.29K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is the maximum number of Partners that a partnership firm can have? Name the Act that provides for the maximum number of partners in a partnership firm. 1.12K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Does Partnership firm has a separate legal entity? Given reason in support of your answer. 842 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans State any two essential features or characteristics of the Partnership other than a minimum number of partners and profit sharing. 1.11K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Written agreement among the Partners is called 1.00K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Name the section of Indian Partnership Act 1932 that allow admission of a minor if all the partners agree. 826 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the section of the Indian Partnership Act 1932 that mentioned the Registration of the firm under the Partnership Act, 1932 is optional and not compulsory. 843 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the Section of the Indian Partnership Act 1932 that allows the admission of a new partner with consent of all the existing partners or in accordance with an agreement among hte partners. 808 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the section of the Indian Partnership Act, 1932 that states a firm is dissolved on the death of a partner Unless otherwise agreed by the partners 805 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the Section of the Indian Partnership Act 1932 that allows the retirement of a partner either with the consent of all existing partners or in accordance with an agreement among the partners. 773 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Partner’s Current Accounts are opened when their Capital Accounts are 891 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs « Previous 1 2 … 158 159 160 161 162 163 164 Next » Question and answer is powered by anspress.net
