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Partnership Deed

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyThe deed says interest is payable on the amount due to a retiring partner but no rate is given. What rate is generally applied by law?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed gives a monthly salary but the partner joined during the year. How should the correct salary be calculated?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed provides both interest on capital and interest on drawings. How will they affect the Profit and Loss Appropriation Account?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the written deed states profit sharing ratio as one to one but orally partners say three to two which basis is safer for accounts?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed says no partner will transfer his share without consent. What does this clause protect?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed states that no partner may carry on a competing business without permission. If a partner does so and earns profit what happens in principle?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the deed requires consent of all partners before giving personal guarantee what is the main reason?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the partnership deed requires a part of profit to be transferred to reserve when will this entry be made?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyWhy is it important for the deed to state valuation method on admission retirement and death?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed requires partners capitals to be maintained in a fixed ratio. If the ratio is disturbed what is the usual adjustment?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the deed does not allow debit balance in partners capital accounts what should be done in case of excess drawings?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyWhat should be the primary purpose of an audit clause in a partnership deed?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed treats insurance premium as a partners personal expense. If the firm pays it what is the correct accounting effect?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed states that the firm will not pay any partners personal liability. What is the accounting meaning?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the deed fixes the accounting year as April to March for which period will the Profit and Loss Appropriation Account be prepared?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyWhat problem is reduced by writing the deadline for capital contribution in the partnership deed?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed charges ten percent interest on drawings. If sixty thousand rupees is withdrawn at the beginning of the year what will be the interest?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed allows interest on capital but a partner introduced additional capital during the year. On what basis should interest be calculated?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the deed gives profit sharing ratio but not a separate loss sharing ratio in what ratio will losses be shared?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyWhat is the strongest accounting benefit of writing partners rights and duties in the deed?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard