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  • Question 1
    1 / -0

    ______________ is not available to a minor partner.

  • Question 2
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    Which of these would increase the net profit of a partnership firm

  • Question 3
    1 / -0

    The provisions regarding retirement of a partner are contained in section of the partnership Act ___________.

  • Question 4
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    A and B are two partners in a partnership firm having capital Rs.10,000 and Rs.15,000. The firm intends to value its goodwill by capitalizing super profit of Rs. 12,500 @ 8%. Find the goodwill of the firm

  • Question 5
    1 / -0

    Rs.1250 paid for the residential telephone bill of the proprietor which of these accounts will be debited 

  • Question 6
    1 / -0

    On admission of a new partner he does not become automatically, liable for the acts of the firm _________.

  • Question 7
    1 / -0

    Public notice in respect of partnership firm is required to be published in at least ______

  • Question 8
    1 / -0

    $$A$$ and $$B$$ are two partners in a firm, as per the terms of agreement partners drawing will carry interest @$$10$$%. If $$B$$ has drawn funds from the business as per the details given below. Find the interest for the year ending 31.12.08.
    1.04.08  Rs. $$10,000$$
    1.09.08  Rs. $$20,000$$

  • Question 9
    1 / -0

    A firm purchase goods costing $$1,00,000$$. He sold goods costing Rs. $$50,000$$ at Rs. $$75,000$$ and the remaining were sold to a consumer co-operative society at the same GP as in the case of direct sales less 20%. Find the total sales of the firm.

  • Question 10
    1 / -0

    $$ABC$$ are three partners sharing profit and loss in the ratio $$2:2:1$$, $$B$$ recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of Rs. $$60,000$$. Find the share of profit of $$A$$ if the firm made a net profit of Rs. $$120,000$$ during 2013-14

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