Partnership Accounting Questions And Answers Pdf

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Which of the following type of the business is governed under the partnership Act ?

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Select the Best Alternate and tally your answer with the Answers given at the end of the book: i Features or Characteristics of Partnership 1. Features of a partnership firm are : A Two or more persons are carrying common business under an agreement. B They are sharing profits and losses in the fixed ratio. C Business is carried by all or any of them acting tor all as an agent. D All of the above.

Following are essential elements of a partnership firm except: CPT; June A At least two persons B There is an agreement between all partners C Equal share of profits and losses D Partnership agreement is for some business. In case of partnership the act of any partner is : C. Foundation Dec. Which of the following statement is true?

A a minor cannot be admitted as a partner B a minor can be admitted as a partner, only into the benefits of the partnership C a minor can be admitted as a partner but his rights and liabilities are same of adult partner D none of the above.

Oustensible partners are those who A do not contribute any capital but get some share of profit for lending their name to the business B contribute very less capital but get equal profit C do not contribute any capital and without having any interest in the business, lend their name to the business D contribute maximum capital of the business. Sleeping partners are those who A take active part in the conduct of the business but provide no capital. However, salary is paid to them.

B do not take any part in the conduct of the business but provide capital and share profits and losses in the agreed ratio C take active part in the conduct of the business but provide no capital. However, share profits and losses in the agreed ratio. D do not take any part in the conduct of the business and contribute no capital.

Which one of the following is NOT an essential feature of a partnership? A There must be an agreement B There must be a business C The business must be carried on for profits D The business must be carried on by all the partners. X, Y and Z are partners sharing profits and losses equally. The extent of their liability in the firm would be : C. Every partner is bound to attend diligently to his in the conduct of the business.

Which of the following is not incorporated in the Partnership Act? D all drawings are to be charged interest. When is the Partnership Act enforced? D No interest is allowed. A and B are partners in partnership firm without any agreement. At the end of year loss was incurred in the business. A and B are partners in a pertnership firm without any agreement. A has withdrawn? A and B are partners in a partnership firm without any agreement. A devotes more time for the firm as compare to B.

Interest on capital will be paid to the partners if provided for in the partnership deed but only out of: C. Which one of the following items cannot be recorded in the profit and loss appropriation account? X, Y, and Z are partners in a firm. At the time of division of profit for the year, there was dispute between the partners. There was no agreement on this point.

Calculate the amount payable to X, Y, and Z respectively. D None of the above. However, there was no written agreement on this point. A Other partners will pay Z the minimum profit and will share the loss equally.

B Other partners will pay Z the minimum profit and will share the loss in capital ratio. In the absence of partnership deed, partners share profits or losses : A In the ratio of their Capitals B In the ratio decided by the court C Equally D In the ratio of time devoted. Is rent paid to a partner appropriation of profits? A and B are partners. Sangeeta and Ankita are partners in a firm. A, B and C are partners. C has not invested any amount as capital but he alone manages the whole business.

C wants? Ram and Shyam are partners in the ratio of 3 : 2. A, B and C are partners in the ratio of 5 : 3 : 2. How much in total B will receive from the firm? A, B and C are partners in a firm without any agreement. They have contributed ,, , and , by way of capital in the firm.

A was unable to work for six months in a year due to illness. At the end of year, firm earned a pro lit of 7 15, Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Find the total remuneration of Meeta. A Fixed capital account will always have a credit balance B Current account can have a positive or a negative balance C Fluctuating capital account can have a positive or a negative balance D All of the above.

Which accounts are opened when the capitals are fixed? Which accounts are opened when the capitals are fluctuating? Xand Y are partners in the ratio of 3 : 2.

Their capitals are? Firm earned a profit of? X and Y are partners in the ratio of 3 : 2. As per partnership agreement, interest on capital is treated a charge on profits. Their profit or loss sharing ratio is 3 : 2. Vikas is a partner in a firm. His drawings during the year ended 31st March, were? Foundation, Dec. Ajay is a partner in a firm. Sushil is a partner in a firm. If fixed amount is withdrawn by a partner on the first day of each quarter, interest on the total amount is charged for ……………..

If a fixed amount is withdrawn by a partner on the last day of each quarter, interest on the total amount is charged for ……………… months A 6 B 4. If a fixed amount is withdrawn by a partner in each quarter, interest on the total amount is charged for ……………….. Anuradha is a partner in a firm. Bipasa is a partner in a firm. Charulata is a partner in a firm. If equal amount is withdrawn by a partner in the beginning of each month during a period of 6 months, interest on the total amount will be charged for ……………… months A 2.

If equal amount is withdrawn by a partner in the end of each month during a period of 6 months, interest on the total amount will be charged for ………………… months A 2. If equal amount is withdrawn by a partner in each month during a period of 6 months, interest on the total amount will be charged for …………… months A 6 B 3 C 2. X is a partner in a firm.

Y is a partner in a firm. Z is a partner in a firm. He withdrew regularly? Xand 7are partners in the ratio of 3 : 2. In the adjusting entry : A Dr. X and Cr. X and Dr. In the adjusting entry : A Cr.

X, Y, and Z are partners in the ratio of 4 : 3 : 2. When a partner is given guarantee by other partners, loss on such guarantee will be borne by : A Partnership firm B All the other partners C Partners who give the guarantee D Partner with highest profit sharing ratio. A, Y and Z are partners in the ratio of 5 : 4 : 3. E, Fand G share profits in the ratio of 4 : 3 : 2. X, Y, and Z are partners in the ratio of 6 : 4 : 1.

P, Q, and R are partners in 3 : 2 : 1. Any deficiency will be borne by P and Q in the ratio of 2 : 1. Any deficiency will be borne by A and Y in 3 : 2. P and Q are partners sharing profits in the ratio of 1 : 2.

X and Y are partners.

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Accountancy Class 12 Important Questions Chapter Wise

Statement 1: A partnership is an organization where two or more persons bind themselves to contribute money, property, or industry into a common fund with the intention of dividing the profits among themselves. Statement 2: Regardless if it is oral or in writing, as long as the contract is valid, the Partnership is also valid. Statement 1: A limited partner can contribute either money, property or industry to the partnership. Statement 1: If the contribution is in the form of immovable property, the contract should be in writing.

NCERT Solutions are a valuable source of vital information so that students learn and adapt the various methodologies that aid them to answer questions more efficiently. After going through Partnership Accounts for Class 12, students will get a brief understanding of how to decode and solve problems, detailed explanation of textbook answers, revision notes, concept videos, and solved MCQs.

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Select the Best Alternate and tally your answer with the Answers given at the end of the book: i Features or Characteristics of Partnership 1. Features of a partnership firm are : A Two or more persons are carrying common business under an agreement. B They are sharing profits and losses in the fixed ratio. C Business is carried by all or any of them acting tor all as an agent. D All of the above. Following are essential elements of a partnership firm except: CPT; June A At least two persons B There is an agreement between all partners C Equal share of profits and losses D Partnership agreement is for some business.

 Предупредить. Он же вас ненавидит. - Он позвонил и предупредил, что заканчивает работу над алгоритмом, создающим абсолютно стойкие шифры. Я ему не поверил. - Но зачем он вам об этом сообщил? - спросила Сьюзан.  - Хотел предложить вам купить этот алгоритм.

Рассказ канадца показался ему полным абсурдом, и он подумал, что старик еще не отошел от шока или страдает слабоумием. Тогда он посадил его на заднее сиденье своего мотоцикла, чтобы отвезти в гостиницу, где тот остановился. Но этот канадец не знал, что ему надо держаться изо всех сил, поэтому они и трех метров не проехали, как он грохнулся об асфальт, разбил себе голову и сломал запястье. - Что? - Сьюзан не верила своим ушам. - Офицер хотел доставить его в госпиталь, но канадец был вне себя от ярости, сказав, что скорее пойдет в Канаду пешком, чем еще раз сядет на мотоцикл.

 - Помните, я сказала, что на Нагасаки сбросили плутониевую бомбу. - Да, - ответил дружный хор голосов. - Так вот… - Соши шумно вздохнула.

Огонь приближался к вершине. ТРАНСТЕКСТ стонал, его корпус готов был вот-вот рухнуть. Голос Дэвида точно вел ее, управляя ее действиями. Она бросилась к лестнице и начала подниматься к кабинету Стратмора. За ее спиной ТРАНСТЕКСТ издал предсмертный оглушающий стон.

Интересно, почему Стратмор его до сих пор не отключил. Ему понадобилось всего несколько мгновений, чтобы принять решение. Фонтейн схватил со стола заседаний трубку внутреннего телефона и набрал номер шифровалки.

 Итак, ТРАНСТЕКСТ вскрывает один шифр в среднем за шесть минут. Последний файл обычно попадает в машину около полуночи. И не похоже, что… - Что? - Бринкерхофф даже подпрыгнул. Мидж смотрела на цифры, не веря своим глазам. - Этот файл, тот, что загрузили вчера вечером… - Ну .

Мужчина выхватил оружие и выстрелил. Острая боль обожгла грудь Беккера и ударила в мозг. Пальцы у него онемели. Он упал. И в следующее мгновение не осталось ничего, кроме черной бездны.

 El anillo. Кольцо, - совсем близко прозвучал голос. Беккер поднял глаза и увидел наведенный на него ствол.

Голос шефа из смешливого вдруг стал жестким: - Сьюзан, я звоню потому, что ты нужна мне. Срочно. Она попыталась собраться с мыслями.

4 Response
  1. Luca F.

    opportunity to revisit the topic of accounting for partnerships. of candidates performed well on questions that examined the topic of partnerships. During the year, Amit's drawings were $18, and Burton's drawings were $31, Solution.

  2. Carmilsteardcatch1974

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  3. Alcira A.

    Persons who have entered into partnership with one another are individually called: a - parnters b - directors c - sole proprietor d - none of the above 2.

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