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Class 12 · Accountancy · Medium
→If the deed mentions only profit ratio as two ratio one but not loss ratio, how will loss generally be shared?
Class 12 · Accountancy · Medium
→The deed states that losses will also be shared in the profit ratio. Which principle does this provision clarify?
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
→A introduced rupees thirty thousand on first January and additional rupees twenty thousand on first July. The deed allows interest at twelve percent. What is the total interest for the year?
Class 12 · Accountancy · Medium
→What is the main benefit of mentioning the nature of business in the deed?
Class 12 · Accountancy · Medium
→Which item is generally not included in a partnership deed?
Class 12 · Accountancy · Medium
→If the deed allows A commission of ten percent of net profit, what type of item is it?
Class 12 · Accountancy · Medium
→The deed has no provision for interest on drawings. A partner made drawings during the year. What interest on drawings will be charged?
Class 12 · Accountancy · Medium
→A partner gave a loan of rupees twenty thousand to the firm and the deed is silent about interest rate. Under the general rule, what is the interest rate on loan?
Class 12 · Accountancy · Medium
→The deed provides interest on capital at ten percent per annum. Capital remained rupees fifty thousand throughout the year. What is the interest?
Class 12 · Accountancy · Medium
→If the deed has no provision for partner salary, how will A's salary claim be treated?
Class 12 · Accountancy · Medium
→The partnership deed allows A a monthly salary of rupees two thousand. At year end, where will this amount first be recorded?
Class 12 · Accountancy · Medium
→A and B have capitals of rupees sixty thousand and rupees forty thousand respectively. The deed does not mention profit sharing ratio. How will profit be shared?
Class 12 · Accountancy · Medium
→While reading a question based on a partnership deed, what exam strategy should be followed first?
Class 12 · Accountancy · Medium
→If the deed gives a fixed monthly date for partners' drawings, what is the biggest benefit?
Class 12 · Accountancy · Medium
→If the deed separately states rights of working and sleeping partners, what purpose does it serve?
Class 12 · Accountancy · Medium
→If the deed gives a partner a share in profit but exempts him from losses, what type of special condition is this?
Class 12 · Accountancy · Medium
→Having signatures and date on the deed strengthens what?
Class 12 · Accountancy · Medium
→If the deed states that goodwill will not be considered on retirement of a partner, what will happen in accounting?
Class 12 · Accountancy · Medium
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