Mannu and Shrishti are partners in a firm sharing profits in the ratio of 3 : 2. Following information is of the firm as on 31st March 2023:
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On 31st March 2018, the balances in the Capital Accounts of Abhir, Bobby, and Vineet, after making adjustments for profits and drawings were ₹ 8,00,000, ₹ 6,00,000, and ₹ 4,00,000 respectively.
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On 31st March 2014, the balances in the capital accounts of Saroj, Mahiner, and Umar after making adjustments for profits and drawings, etc., were ₹ 80,000, ₹ 60,000, and ₹ 40,000 respectively. Subsequently, it was discovered that the interest on capital and drawings has been omitted.
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Capitals of Kajal, Neerav, and Alisha as on 31st March 2023 were ₹ 90,000, ₹ 3,30,000, and ₹ 6,60,000 respectively
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Mohit and Sobhit are partners sharing profits in the ratio of 3:2. Rohit was admitted for 1/6th share of profit
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A, B, and C were in partnership sharing profits and losses in the ratio of 4 : 2 : 1. It was provided that C’s share in profit for a year would not be less than ₹ 75,000.
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Reduction in production of junk food :
Ans – c) Explanation:- Reduction in production reduces employment thus reducing welfare. On the other hand, a reduction in the production of junk food reduces health issues. thus increasing welfare.
Production of petrol and diesel driven vehicles :
Ans – c) Explanation:- Petrol and diesel-driven vehicles raise welfare as it reduces the time of distance travel. At the same time, such vehicles spread air pollution that reduces the life of countries citizen
Real GDP is :
Ans – c) Explanation:- Real GDP = Nominal GDP/Price Index * 100
Welfare of the people of a country is determined by:
Ans – d) Explanation:- Welfare refers to the overall well-being of every citizen of a country. The overall GDP is the total of all residents of a country. But it does not show per-person income. It may be few people…