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An employee takes a house on rent and pays the same to the landlord. The employer reimburses this amount. Such a payment by the employer is:

Ans – c) Explanation:- The rent paid by the employer to an employee for his residence is part of the compensation of the employee

Anurag Pathak
April 10, 2023

Contribution of a production unit to national income is:

Ans – d) Explanation:- National income = NDP at FC + NFIA The production unit contributes the value added at factor cost (NDP at FC) NDP at FC = Value of output – Intermediate costs – depreciation – Net indirect…

Anurag Pathak
April 10, 2023

Value added is :

Ans – c) Explanation:- Value Added (GDP at MP) = Sales + Net change in stock – Intermediate Costs

Anurag Pathak
April 10, 2023

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.

Anurag Pathak
April 10, 2023

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.

Anurag Pathak
April 10, 2023

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…

Anurag Pathak
April 10, 2023

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.

Anurag Pathak
April 10, 2023

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:-

Anurag Pathak
April 10, 2023

Atul, Bipul, and Charu are partners sharing profits equally. Bipul is guaranteed a minimum profit of ₹ 2,00,000 per annum

Solution:-

Anurag Pathak
April 10, 2023

Parul, Prerna, and Kaushal are partners sharing profits equally. Parul is guaranteed a minimum annual profit of ₹ 2,00,000

Solution:-

Anurag Pathak
April 10, 2023

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Archives Answers

An employee takes a house on rent and pays the same to the landlord. The employer reimburses this amount. Such a payment by the employer is:

Contribution of a production unit to national income is:

Value added is :

Converting Wheat into wheat flour is a part of this sector of the economy:

Police department is a part of this sector of the economy:

In the production phase of the circular flow of income, the income are:

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.

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.

Atul, Bipul, and Charu are partners sharing profits equally. Bipul is guaranteed a minimum profit of ₹ 2,00,000 per annum

Parul, Prerna, and Kaushal are partners sharing profits equally. Parul is guaranteed a minimum annual profit of ₹ 2,00,000