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Class 12 · Accountancy
→If the partnership deed requires 10% of profit to be transferred to an employee welfare fund, what will be the fund amount on a profit of Rs 160,000?
Class 12 · Accountancy
→The deed says partner A will receive only capital back but no share in goodwill. This clause is especially important on which event?
Class 12 · Accountancy
→If the partnership deed provides for penal interest on a partner's drawings that exceed capital, whose income will this penal interest be treated as?
Class 12 · Accountancy
→The deed guarantees A a minimum profit of Rs 60000 by the firm. Actual share is Rs 52000. How will the deficiency be met?
Class 12 · Accountancy
→If the partnership deed provides 12% per annum interest on a partner's loan and Rs 50,000 was lent for six months, what is the interest for six months?
Class 12 · Accountancy
→The deed says a partner may take copies of books but cannot take original books outside. What is its purpose?
Class 12 · Accountancy
→If the deed says commercial decisions need a majority but structural decisions need unanimity, adding a new partner is what type of decision?
Class 12 · Accountancy
→The deed gives A ten percent commission on net profit after charging such commission. Profit before commission is Rs 110000. What is the commission?
Class 12 · Accountancy
→If the partnership deed admits a minor only to benefits of partnership, in what will the minor not share?
Class 12 · Accountancy
→The deed requires donation expense to be deducted before profit distribution. In which account will this item first appear?
Class 12 · Accountancy
→If the deed prohibits partners from giving personal guarantees in the firms name, which risk does this clause prevent?
Class 12 · Accountancy
→The deed says interest on capital will be allowed only on opening capital. A introduced additional capital during the year. On what will interest be allowed?
Class 12 · Accountancy
→If a term of the partnership deed has to be changed, what is generally required?
Class 12 · Accountancy
→If any clause in the partnership deed is ambiguous, what is the safest exam approach in accounts?
Class 12 · Accountancy
→If the deed describes A as working partner and B as sleeping partner, still on what basis will profit be distributed?
Class 12 · Accountancy
→The deed says the incoming partner will not share old losses. How will accumulated losses be treated at admission?
Class 12 · Accountancy
→The deed provides a settlement procedure if a partner becomes insolvent. Which risk does this reduce?
Class 12 · Accountancy
→If the deed says commission is on profit after charging commission, what must be considered in calculation?
Class 12 · Accountancy
→The deed states that A will receive a commission of 10% on net profit and net profit is Rs 80,000. What is A's commission?
Class 12 · Accountancy
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