The interest on capital accounts of partners under the fluctuating capital account method is credited to

In the absence of an agreement to the contrary, partners share profits and losses in the

In the absence of an agreement to the contrary, the partners are

The current account of a partner

Interest payable on the capitals of the partners is changed to

Interest on partner’s drawing under a fluctuating capital account is debited to

Features of partnership are

Provisions of Partnership Act, 1932 in the absence of Partnership Deed

The written agreement of partnership is most commonly referred to as :

Which of the following is an appropriation of profit?

In which year was the Partnership Act passed?

In a business, A and B invested amounts in the ratio of 2 : 1, whereas the profit sharing ratio between A and B was 3 : 2. If

the firm earned a profit of Rs. 1,20,000, how much amount did B receive?

Rs. 700 is divided among A, B and C so that A receives half as much as B and B receives half as much as C. Then C’s share is :

State the collective term used for the partners

If equal amount is withdrawn by partner in the beginning of each month during a month of 6 months interest on the total amount will be charged for......month

Which one of the following items is recorded in the Profit and Loss appropriation account

The interest on capital accounts of partners under fluctuating capital account method is credited to :

Which of the following elements of the nature of partnership is so important that there would be no partnership, if this element is absent?

Ram and Mohan are childhood friends. Ram is a consultant whereas Mohan is an architect. They contributed equal amounts and purchased a building for Rs. 2 crores. After a year, they sold it for Rs. 3 crores and shared the equally. Are they doing the business in partnership?

In which year was the Partnership Act passed?

As per section a minor may be admitted for the benefit of the partnership if:-

The relation of the partner with the firm is that of

A and B are partner’s sharing profit equally. A draw regularly Rs. 4,000 at the end of every month for 6 months. Year ended on 30thSeptember 2018, calculate interest on drawings @ rate 5% p.a.

A new partner can be admitted -

In the absence of an agreement, partners are entitled to:

If there is no partnership deed then interest on capital will be charged at ........ p.a

Interest on capital will be paid to the partners if provided for in the partnership deed but only out of:

Mohan and Shyam are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:

Shyam had advanced a loan to the firm. He claims interest @ 10% per

annum;

Verma and Kaul are partners in a firm. The partnership agreement provides that interest on drawings should be charged @ 6% p.a. Verma withdraws Rs. 2,000 per month starting from April 01, 2019 to March 31, 2020. Kaul

withdrew Rs, 3,000 per quarter, starting from April 01, 2019. Calculate interest on partner’s drawings.