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Category [CBSE] Fundamentals of Partnership Firm

[CBSE] Fundamentals of Partnership Firm 234 Questions

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0 Votes 1 Ans

Reema and Seema are partners sharing profits equally. The Partnership Deed provides that both Reema and Seema will get a monthly salary of ₹ 15,000 each

4.25K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X and Y are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 8,00,000 and ₹ 6,00,000 respectively.

5.28K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X, Y, and Z are partners in a firm sharing profits in the ratio of 2 : 2 : 1. Fixed Capitals of the partners were: X ₹ 5,00,000; Y ₹ 5,00,000 and Z ₹ 2,50,000 respectively

4.65K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Vinod and Mohan are partners. Vinod’s Capital is ₹ 1,00,000 and Mohan’s Capital is ₹ 60,000. Interest on Capital is payable @ 6% p.a

6.22K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Parul, Paresh, and Rahul are partners in a firm. The firm gave a loan to Rahul on 1st February 2022 of ₹ 6,00,000

6.73K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Atul, Jetha, and Tarak are partners sharing profits equally. Jetha was given a loan by the firm on 1st July 2022 of ₹ 6,00,000

5.86K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Ankit, Bhanu, and Charu are partners in a firm sharing profits and losses equally with a capital of ₹ 2,50,000

6.42K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Nirmal and Pawan are partners sharing profits in the ratio of 3 : 2. The firm had given a loan to Pawan of ₹ 5,00,000 on 1st April

6.21K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Akhil and Bimal are partners sharing profits in the ratio of 3 : 2. Akhil gave a loan to the firm of ₹ 1,00,000 on 1st October 2022

5.56K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Akhil, Sunil, and Parvesh are partners sharing profits in the ratio of 3 : 2 : 1. Sunil had given a loan to the firm on 1st November 2022 of ₹ 4,00,000

6.42K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Bat and Ball are partners sharing the profits in the ratio of 2 : 3 with capitals of ₹ 1,20,000 and ₹ 60,000 respectively

3.82K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Sita and Geeta are partners in a firm sharing profits in the ratio of 3:2. They had given a loan to the firm of ₹ 30,000

3.37K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X and Y are partners sharing profits and losses in the ratio of 2:3 with capitals of ₹ 2,00,000 and ₹ 3,00,000 respectively

4.18K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Atul and Mithun are partners sharing profits in the ratio of 3 : 2. Balances as on 1st April 2022 were as follows

7.58K viewsAnurag Pathak Changed status to publish April 8, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Asha, Disha and Raghav were partners in a firm sharing profits in the ratio of 2 : 3 : 1. According to the partnership agreement

1.57K viewsAnurag Pathak Changed status to publish April 5, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions

0 Votes 1 Ans

Aditi, Bobby and Krish were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. Their capitals were ₹ 5,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively

1.58K viewsAnurag Pathak Changed status to publish April 5, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions

0 Votes 1 Ans

X and Y are partners sharing profits equally. Z was a manager who received a salary of ₹ 8,000 p.m. and in addition a commission of 5%

2.77K viewsAnurag Pathak Changed status to publish April 4, 2024[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th MCQs

0 Votes 1 Ans

X, Y, and Z are partners in a firm sharing profits and losses in the ratio of 6:4:1. X guaranteed a profit of ₹ 15,000 to Z

5.38K viewsAnurag Pathak Changed status to publish April 1, 2024[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th

0 Votes 1 Ans

Hari and Kunal were partners in a firm sharing profits in the ratio of 5:3. Their fixed capitals on 31st March 2022 were: Hari ₹ 60,000 and Kunal ₹ 80,000. They agreed to allow interest on capital @ 12% p.a.

4.60K viewsAnurag Pathak Changed status to publish December 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th

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.

3.02K 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.

2.74K 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.

3.68K 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): Commission provided to partner is shown in Profit and Loss Account.

1.38K 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.

1.69K 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.

2.66K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th Assertion Reason (MCQs)

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