Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Choose the correct sequence of the following transactions in the context of the Division of Profits: 1.28K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Neha, a partner, owns a building from where the firm carries its business. The firm pays her ₹ 10,000 as the rent for the building. Will it be transferred to Profit & Loss Account or Profit & Loss Appropriation Account? Why? 2.71K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is a Partnership Deed? 1.24K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Does a partner has the right not to allow admission of a new partner if the Partnership Deed does not exist? 1.11K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Is there any restriction on the maximum number of partners? if yes, name the act under which it is prescribed. 1.35K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans A group of 40 People wants to form a Partnership Firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the act under whose provisions it is given. 1.60K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is the maximum number of Partners that a partnership firm can have? Name the Act that provides for the maximum number of partners in a partnership firm. 1.43K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Does Partnership firm has a separate legal entity? Given reason in support of your answer. 1.07K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans State any two essential features or characteristics of the Partnership other than a minimum number of partners and profit sharing. 1.33K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Written agreement among the Partners is called 1.24K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Name the section of Indian Partnership Act 1932 that allow admission of a minor if all the partners agree. 1.02K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the section of the Indian Partnership Act 1932 that mentioned the Registration of the firm under the Partnership Act, 1932 is optional and not compulsory. 1.10K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the Section of the Indian Partnership Act 1932 that allows the admission of a new partner with consent of all the existing partners or in accordance with an agreement among hte partners. 1.08K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the section of the Indian Partnership Act, 1932 that states a firm is dissolved on the death of a partner Unless otherwise agreed by the partners 1.05K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Name the Section of the Indian Partnership Act 1932 that allows the retirement of a partner either with the consent of all existing partners or in accordance with an agreement among the partners. 1.02K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Partner’s Current Accounts are opened when their Capital Accounts are 1.14K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans Interest on Capital Accounts of partners under the Fluctuating Capital Account Method is credited to 1.10K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Commission of 20% on net Profit after charging such commission is calculated as 2.26K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans Old and Young are equal partners in a firm. Their draft accounts for the year ended 31st March, 2023 show profit of ₹ 1,50,000 before taking into account interest @ 10% p.a. on loan for ₹ 50,000 from Young. Partners are to get salary as follows: 4.30K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans Which one of the following items is not transferred in the Profit and Loss Appropriation Account? 1.66K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans When Guarantee is given to a partner by the other partners, loss on such guarantee will be borne by 1.11K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans When the interest on capital is allowed to partners, Interest on Capital Account is debited and Partner’s Capital Account is credited . It is called 1.22K viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans Under Fixed Capital Method: 1.28K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans Arif, Ravi and Ben are partners in a firm sharing profits and losses in the ratio of 6:4:1. Arif guaranteed minimum profit of ₹ 16,000 to Ben. The trading profit of the firm for the year ending 31st March, 2021, was ₹ 1,32,000. 3.91K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs 0 Votes 1 Ans Pick the odd one out from the following 2.21K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thMCQs « Previous 1 2 … 165 166 167 168 169 170 Next » Question and answer is powered by anspress.net
