P and Q were partners in a firm sharing profits in the ratio of 5:3. On 1st April 2022 they admitted R as a new partner for 1/8th share in the profits with a guaranteed profit of ₹ 75,000.
Solution:-
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A and B are in partnership sharing profits and losses in the ratio of 3;2. They admit C, their manager, as a partner with effect from 1st April 2022, for 1/4th share of profits.
Solution:- Working Notes:-
Asgar, Chaman, and Dholu are partners in a firm. Their capital Accounts stood at ₹ 6,00,000 and ₹ 5,00,000 and ₹ 4,00,000 respectively on 1st April 2022.
Solution:-
Given NDP at FC = 80, indirect tax = 10 and net factor income to abroad = – 10, what is NNP at MP ?
Ans – d) Explanation:- NNP at MP = NDP at FC + Indirect tax – subsidies – Net factor income to abroad NNP at MP = 80 + 10 – 0 – (- 10) NNP at MP = ₹ 100
Given GDP at MP = 100, Subsidies = 5 and Depreciaiton = 10, then NDP at FC equals
Ans – a) Explanation:- NDP at FC = GDP at MP – Depreciation – Indirect tax + subsidies NDP at FC = 100 – 10 + 5 = ₹ 95
GDP at MP is
Ans – d) Explanation GDP at MP = NDP at FC + Depreciation + Indirect tax – Subsidies Gross indicates depreciation included MP (Market Price) indicates net indirect tax (Indirect tax – subsidies) included.
Chinese embassy in India is a part of economic territory of
Ans – a) Explanation:- As Chinese embassy is administered by the government of China and all administrative policies are applied as per their government. Thus Chinese embassy comes under the Economic territory of China.
Economic territory of a country is also called
Ans – c) Explanation:- Economic territory is also known as Domestic territory
Economic territory is one in which the following move freely
Ans – d) In economic territory, people, goods and capital moves freely.
A ‘resident’ of a country is one
Ans – d) Explanation:- A resident of a country is the one who lives, earns, spends and save in that country he lives irrespective of the citizenship