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Category Assertion Reason (MCQs)

Assertion Reason (MCQs) 8 Questions

0 Votes 1 Ans

Assertion (A): Rent to a Partner is transferred to the debit of Profit & Loss Account but is not transferred to the debit of Profit and Loss Appropriation Account.

3.05K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Interest on Loan to partner is charged @ 6% p.a., if Partnership Deed does not provide for charging of interest.

2.78K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Avinash, a partner in the firm gave loan of ₹ 5,00,000 to the firm without an agreement as to rate of interest. Interest on Loan by Avinash is to be allowed @ 6% p.a.

3.75K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Commission provided to partner is shown in Profit and Loss Account.

1.39K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Interest charged on drawings is debited to Profit and Loss Appropriation Account.

1.70K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Drawings against capital is transferred to Partner’s Current Account, if capital is fixed.

2.68K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Partnership is a separate and distinct entity from partners from the viewpoint of accounting.

2.30K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

0 Votes 1 Ans

Assertion (A): Bharat, a partner in the firm gave loan of ₹ 5,00,000 of the firm without an agreement as to rate of interest. At the year end, the remaining partners agreed to allow interest on Loan by Bharat @ 8% p.a.

3.73K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

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