Accounting for ...

In case of insolvency of a partner, any balance in reserve fund or profit and loss accounts is distributed to all the partners ______________.

Which of the following are of revenue nature ?

Which of the following statement/s is/are appropriate in respect of partnership account?
1. In the absence on any provision in the partnership agreement to the contrary, partners can charge interest @6% per annum on loans given by them to the partnership firm.
2.  An ordinary partnership firm can have not more than 20 partners
3. A banking partnership firm can have not more than 10 partners.

Advance received in connection with the contract to supply goods which was later on forfeited for breach of contract, it is an example of  ______________.

Entrance Fee/Admission Fee may be treated as ____________.

In case of an unregistered firm a partner cannot:

The interest on partners capital accounts is to be credited to _______________.

 Amount realization from the sale of private estate of partners is used first to pay off ___________________.

Consider the following statements :
1. It is compulsory to have a Partnership Deed.
2. It is compulsory for a partnership firm to get itself registered.
3. A partner of an unregister firm can file a suit for the dissolution of the firm.
Which of the above statement/s is/are not correct ?

Which of the following is correct statement ?