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Class 12 · Accountancy · Hard
→If the deed has no provision for interest on drawings when will interest be charged on partners drawings?
Class 12 · Accountancy · Hard
→The deed gives the rate of interest on drawings but not the period. For equal monthly drawings what average period is generally taken?
Class 12 · Accountancy · Hard
→If the deed clearly says interest on capital is payable irrespective of profit or loss how will it be treated?
Class 12 · Accountancy · Hard
→The deed allows interest on capital at twelve percent but profit available for appropriation is lower. What is the correct treatment of interest on capital?
Class 12 · Accountancy · Hard
→If the deed provides partners salary but profit is insufficient where is salary shown?
Class 12 · Accountancy · Hard
→The partnership deed is silent about the profit sharing ratio and partners capitals are unequal. How will profit be shared?
Class 12 · Accountancy · Medium
→If the partnership deed states that goodwill brought by a new partner will remain in the firm, what does this clause clarify?
Class 12 · Accountancy · Medium
→Which option gives the most complete exam use of a partnership deed?
Class 12 · Accountancy · Medium
→What is the benefit of mentioning the closing date of accounting year in the partnership deed?
Class 12 · Accountancy · Medium
→The deed says partner A gets five percent commission on profit after salary. What does this sentence clarify?
Class 12 · Accountancy · Medium
→In a question, the deed and the Partnership Act rules give different results. Which will be applied first?
Class 12 · Accountancy · Medium
→If the deed does not mention duties of partners, which source will be helpful?
Class 12 · Accountancy · Medium
→On which side of the Profit and Loss Appropriation Account is interest on drawings 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 says interest on partner's loan will be paid even if the firm has a loss. What is the nature of this interest?
Class 12 · Accountancy · Medium
→What is the main purpose of including a clause restricting withdrawal of capital in a partnership deed?
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
→A, B, and C agreed in the deed to treat capital ratio as profit ratio. Their capitals are rupees two lakh, three lakh, and five lakh. In what ratio will profit be shared?
Class 12 · Accountancy · Medium
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