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Class 12 · Accountancy · Hard
→If the partnership deed requires a part of profit to be transferred to reserve when will this entry be made?
Class 12 · Accountancy · Hard
→If the deed requires fixed capitals in which account will appropriations like salary and interest be recorded?
Class 12 · Accountancy · Hard
→If the deed provides partners salary but profit is insufficient where is salary shown?
Class 12 · Accountancy · Medium
→The deed provides both interest on capital and partner salary. On which side of the Profit and Loss Appropriation Account are these shown?
Class 12 · Accountancy · Medium
→The deed states that a partner's personal loan liability will not fall on the firm. What type of clause is this?
Class 12 · Accountancy · Medium
→If the agreement is oral and there is no written proof, what may be the biggest practical problem?
Class 12 · Accountancy · Medium
→The deed allows B a five percent commission on sales. On what basis is this commission given?
Class 12 · Accountancy · Easy
→A is guaranteed a minimum profit of rupees twenty thousand. His actual share of profit is rupees seventeen thousand. What is the deficiency?
Class 12 · Accountancy · Medium
→Which clause clarifies which partner can enter into contracts on behalf of the firm?
Class 12 · Accountancy · Medium
→A deed states that capitals will be fixed. In such a case, where are additional capital and drawings generally recorded?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 3:2. As per the deed, A is paid a commission of 10% of profit and then the remaining profit is shared. If the profit remaining for distribution after the commission is ₹45,000, what is A's share from the remaining profit?
Class 12 · Accountancy · Medium
→What primary benefit do partners obtain by including the right to inspect the books of accounts in the partnership deed?
Class 12 · Accountancy · Medium
→The deed charges interest on drawings at eight percent. A withdrew rupees ten thousand at the beginning of the year. What is the interest?
Class 12 · Accountancy · Medium
→If the deed separately states rights of working and sleeping partners, what purpose does it serve?
Class 12 · Accountancy · Easy
→If the deed says a partner cannot use firm property for personal use, what control does it relate to?
Class 12 · Accountancy · Medium
→If the partnership deed says profit will first be transferred to reserve, what type of adjustment is this?
Class 12 · Accountancy · Easy
→If the deed states eight percent interest on a partner's loan, which rate will apply?
Class 12 · Accountancy · Easy
→If the deed says a partner will not carry on a separate business without consent, what does it relate to?
Class 12 · Accountancy · Easy
→Writing a borrowing limit in the deed is what type of control?
Class 12 · Accountancy · Medium
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