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Class 12 · Accountancy
→The deed requires signatures of both A and B to open a branch. Only A incurred branch expense. What question arises about the expense?
Class 12 · Accountancy
→The deed prohibits partners from disclosing trade secrets. What accounting effect can arise from loss caused by breach?
Class 12 · Accountancy
→If the deed gives interest rate on drawings but dates are not given and drawings are unequal what is the safest exam approach?
Class 12 · Accountancy
→The deed follows fluctuating capital method. Where will year end profit share be credited?
Class 12 · Accountancy
→The deed follows fixed capital method but the accountant debited drawings to capital account. Why is this an error?
Class 12 · Accountancy
→The deed says a partners capital account must not have debit balance. If a debit balance appears at year end what does it indicate?
Class 12 · Accountancy
→If the deed had profit sharing ratio and salary and the new amendment changes only the ratio what happens to salary?
Class 12 · Accountancy
→The deed says old goodwill will not be shown in books but new partner will pay premium. Which adjustment does this indicate?
Class 12 · Accountancy
→The deed says all major decisions among partners require unanimity. Purchase of a major asset will fall under which category?
Class 12 · Accountancy
→If the deed prohibits partners from taking personal loans in the firms name why should such a loan not be recorded as firm loan?
Class 12 · Accountancy
→The deed says deficiency of an insolvent partner will be borne by remaining partners in capital ratio. Which normal rule can this modify?
Class 12 · Accountancy
→The deed includes capital interest salary profit share and goodwill in amount due on death. Which item relates to right up to death rather than future service?
Class 12 · Accountancy
→If the deed says C will receive only interest on capital and will not share profit why may there be doubt about C being a partner?
Class 12 · Accountancy
→The deed says profit ratio will change after allowing interest on capital. What type of complex clause is this?
Class 12 · Accountancy
→The deed says commission to partners will be allowed only after creating reserve. Why is this order important when profit is low?
Class 12 · Accountancy
→If the deed requires 15% of profit to be transferred to the expansion fund and the total profit is ₹2,00,000, how much will be transferred to the expansion fund?
Class 12 · Accountancy
→The deed allows firm books to be kept online but passwords must be given to all partners. Which right is this clause linked to?
Class 12 · Accountancy
→The deed allows reimbursement of expenses only on submission of bills. Why can an expense claim without bill be rejected?
Class 12 · Accountancy
→If the deed says loss caused by a partners fault will be borne by that partner and the loss is fifteen thousand rupees who will be debited?
Class 12 · Accountancy
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