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Class 12 · Accountancy
→If the deed says equal drawings are made at the end of each quarter what average period is generally taken?
Class 12 · Accountancy
→If the deed says equal drawings are made at the beginning of each quarter what average period is generally taken?
Class 12 · Accountancy
→The deed says B will get ten percent commission on net profit before commission. If profit before commission is ninety thousand rupees what is B commission?
Class 12 · Accountancy
→The deed says A will get twenty percent commission after charging commission. Profit before commission is eighty thousand rupees. What is the commission?
Class 12 · Accountancy
→If the deed provides both interest on capital and interest on loan where is interest on loan more appropriately shown?
Class 12 · Accountancy
→The deed states that partner salary is payable irrespective of profit or loss. What will be its accounting nature?
Class 12 · Accountancy
→The deed states that partners contribution includes not only capital but also skill and service. What does it clarify?
Class 12 · Accountancy
→If the deed provides salary deduction for unauthorized absence how will salary be calculated?
Class 12 · Accountancy
→The deed allows donation out of firm profits. What type of item can this donation be?
Class 12 · Accountancy
→The deed says loss caused by a partners fault will be borne by that partner. How may such loss be shown?
Class 12 · Accountancy
→The deed says partner A may convert his loan to capital. Which item will change after conversion?
Class 12 · Accountancy
→If the deed uses fixed capital accounts where will the year end profit share be credited?
Class 12 · Accountancy
→The deed says interest on capital is to be calculated on opening capital. Why is closing capital not the proper base?
Class 12 · Accountancy
→The deed gives profit ratio A B C as two to two to one. C has a minimum guarantee of thirty thousand rupees. If total profit is one lakh rupees what is C deficiency?
Class 12 · Accountancy
→If a partnership deed states that interest on capital is payable only when profit is available, and the firm's net profit for that year is zero, will interest on capital be payable?
Class 12 · Accountancy
→The deed says partner B will get special interest on additional capital. How is it different from normal interest on capital?
Class 12 · Accountancy
→The deed requires consent of all partners to sell firm assets. If an asset is sold without consent what accounting dispute arises?
Class 12 · Accountancy
→The deed provides rent to a partner for using his machine in firm business. What is this payment treated as?
Class 12 · Accountancy
→The deed gives a new partner share only in future profits. To whom do old accumulated reserves belong?
Class 12 · Accountancy
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