Category Assertion Reason (MCQs) Assertion Reason (MCQs) 8 Questions Ask question Search Order By: ActiveClear Filter 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. 2.10K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion 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. 1.81K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion 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. 2.51K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Commission provided to partner is shown in Profit and Loss Account. 870 viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Interest charged on drawings is debited to Profit and Loss Appropriation Account. 1.02K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Drawings against capital is transferred to Partner’s Current Account, if capital is fixed. 1.80K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Partnership is a separate and distinct entity from partners from the viewpoint of accounting. 1.57K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion 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. 2.45K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) Question and answer is powered by anspress.net
