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Class 12 · Accountancy
→If the deed says salary is a charge against profit, what will be its effect when there is a loss?
Class 12 · Accountancy
→Mention of a partner giving profit guarantee in the deed is especially useful in which situation?
Class 12 · Accountancy
→If the deed does not mention interest on drawings but drawings were made, what is the general rule?
Class 12 · Accountancy
→If both profit ratio and salary are given in the partnership deed, what should be checked first in the profit and loss appropriation account?
Class 12 · Accountancy
→If the deed states eight percent interest on a partner's loan, which rate will apply?
Class 12 · Accountancy
→The partnership deed treats interest on capital as an appropriation of profit. If net profit is only a small amount, what is the most correct treatment?
Class 12 · Accountancy
→What is the best exam use of the partnership deed when a question gives several partners' rights?
Class 12 · Accountancy
→If the deed requires partners to maintain equal capital, how will excess or deficient capital be settled?
Class 12 · Accountancy
→Why are signatures considered necessary in a partnership deed?
Class 12 · Accountancy
→After calculating appropriations, the remaining profit is shared according to what in the deed?
Class 12 · Accountancy
→If the firm has insufficient profit and the partnership deed treats salaries and interest on capital as appropriations, the total appropriation cannot exceed what?
Class 12 · Accountancy
→If the deed says a partner will not carry on a separate business without consent, what does it relate to?
Class 12 · Accountancy
→Why is mentioning the place of business in the partnership deed useful?
Class 12 · Accountancy
→When different partners' rights are written in the deed, which accounting mistake is reduced?
Class 12 · Accountancy
→If the deed provides five percent commission on profit to a partner, when will it be allowed?
Class 12 · Accountancy
→The goodwill premium condition on admission in the deed protects whose interest?
Class 12 · Accountancy
→If the deed has one ratio for profit and another for capital, which ratio is valid for profit distribution?
Class 12 · Accountancy
→Writing a borrowing limit in the deed is what type of control?
Class 12 · Accountancy
→Why is a settlement-on-death clause necessary in a partnership deed?
Class 12 · Accountancy
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