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Class 12 · Accountancy
→The deed states that A will get Rs 3000 monthly salary. If A works for six months and no other condition is given, what will be the salary?
Class 12 · Accountancy
→If the deed gives interest on drawings rate but the withdrawal is made at the end of the year, what will be the interest period?
Class 12 · Accountancy
→The deed allows ten percent interest on capitals of Rs 40000 and Rs 60000 for A and B respectively. What will be total interest on capital?
Class 12 · Accountancy
→If the deed allows A a twenty percent commission on profit before distributing remaining profit, what is the nature of this item?
Class 12 · Accountancy
→The deed provides eight percent interest on partner loans. In this case when will the general six percent rule not apply?
Class 12 · Accountancy
→If the partnership deed gives profit sharing ratio as three to two but capitals are equal, in which ratio will year end profit be shared?
Class 12 · Accountancy
→If the partnership deed states that partners capitals will remain fixed but profit share will be adjusted in current accounts, which account will be credited while distributing profit?
Class 12 · Accountancy
→If the deed says profit will first be transferred to reserve and then shared among partners, what is the first exam step?
Class 12 · Accountancy
→What is the main benefit of writing the method of goodwill valuation in the partnership deed?
Class 12 · Accountancy
→The partnership deed expressly states that profit shall be distributed before paying interest on capital. What is the correct conclusion in this situation?
Class 12 · Accountancy
→If the deed treats a partners personal expense as drawings, which account will be debited when the firm pays it?
Class 12 · Accountancy
→The deed states a notice period for retirement of partners. Why is this provision included?
Class 12 · Accountancy
→If the deed allows interest on capital to A and salary to B, when does the order of these items become important?
Class 12 · Accountancy
→The deed says A will first get Rs 30000 salary and remaining profit will be shared in ratio 2 to 1. In Rs 90000 profit, what is As total share?
Class 12 · Accountancy
→The deed states that twenty percent of profit will be transferred to the general reserve. If the total profit is Rs 90000, what amount will be transferred to the reserve?
Class 12 · Accountancy
→The deed gives interest on drawings rate but drawing dates are not given. If equal amount is withdrawn monthly, what average period is generally used in exams?
Class 12 · Accountancy
→If the deed provides profit calculation at year end, what must be checked when a partner is admitted mid-year?
Class 12 · Accountancy
→The deed says no partner can use firm property privately without consent. What idea does this show?
Class 12 · Accountancy
→If the deed gives equal rights to partners but one partner brings more capital, how will management rights be decided?
Class 12 · Accountancy
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