Value added is :
Ans – c) Explanation:- Value Added (GDP at MP) = Sales + Net change in stock – Intermediate Costs
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Converting Wheat into wheat flour is a part of this sector of the economy:
Answer – b) Explanation:- The secondary sector is concerned with the Manufacturing Sector. In the Manufacturing sector, raw material is converted into final products. Thus converting wheat into wheat flour is concerned with the Secondary sector.
Police department is a part of this sector of the economy:
Ans – c) The Tertiary Sector is concerned with the service sector. The Police department provides the services to maintain the law and order.
In the production phase of the circular flow of income, the income are:
Ans – a) Explanation:- The first phase of the circular flow is the production phase where the goods are produced by the household. In this phase, the value is added to the intermediate goods and that is converted into final…
X, Y, and Z entered into a partnership on 1st October 2022 to share profits in the ratio of 4:3:3. X, personally guaranteed that Z’s share of profit after allowing interest on capital @ 10% p.a. would not be less than ₹ 8,000 in a year.
Solution:- Note:- As partners started business on 1st October, thus interest on capital and guarantee to partners are provided only for six months from 1st October to 31st March.
A, B, and C are partners sharing profits in the ratio of 5:4:1. C is given a guarantee that his minimum share of profits in any year would be at least ₹ 50,000. Deficiency, if any, would be borne by A and B equally.
Solution:-
Atul, Bipul, and Charu are partners sharing profits equally. Bipul is guaranteed a minimum profit of ₹ 2,00,000 per annum
Solution:-
Parul, Prerna, and Kaushal are partners sharing profits equally. Parul is guaranteed a minimum annual profit of ₹ 2,00,000
Solution:-
Ashmit, Abbas, and Karman are partners sharing profits in the ratio of 3:2:1. Abbas is guaranteed a minimum profit of ₹ 1,50,000 per annum.
Solution:-
P, Q, and R entered into a partnership on 1st April 2018 to share profit and losses in the ratio of 12 : 8 : 5.
Solution:- For the Year 2021 For the Year 2022:- For the Year 2023:-