In case of winding up of firm if the asset of the firm are not sufficient to pay the partner capital, the deficiency in capital _______________________.

Goods worth Rs.$$5,000$$ were purchased from P on $$3$$ months credit. P A/c will be shown under.....

As per the Partnership Act partners are entitled to interest on capital at....

Which of these is not a determinant of good will of a firm _________?

XYZ is a partnership firm, Y took goods worth Rs 5000 from the business for self use. This will be accounted for as 

An agreement to carry on business at future time does not result in partnership unless __________________.

As per Partnership Act the property of the firrn shall be held and used by the partners ______________________.

A, B and C are three partners in a partnership from dealing in ready-made garments. A on his own without knowledge and consent of remaining partner enter into an export order of sugar to Nepal on which he suffered heavy losses. A cannot recover this loss from the firm or other partners because ___________.

There are three partners in a firm A, B and C. D is admitted into the firm with $$1_{/4}$$ share of profit with a guaranteed profit of Rs. $$50,000$$ p.a. The firm's total profit is Rs. $$1,60,000$$ what amount would be given to D as his share of profit by the firm.

A, B and C are three partners sharing profit and loss in the ratio of 2:3:1 B retires from the firm. What is the new profit sharing ratio of the remaining partners

A and B are two partners in a firm sharing profit and loss equally. C is admitted as a third partner for $$1_{/3}$$ share of profit for which he agreed to pay Rs. $$10,000$$ to each partner as his share of good will privately. How this will be accounted for in the books of the firm.

A, B and C are three partners sharing profit and loss in the ratio of $$2:3:1$$ B retires from the firm. What is the new profit sharing ratio of the remaining partners

XYZ are three partners in a firm sharing profit and loss equally. P is admitted as a new partner for $$1_{/4}$$ share of profit. He brings Rs. $$45,000$$ as his capital for $$1_{/4}$$ share of profit. The combined capital of the old partner stand Rs. $$1,05,000$$ each partner having capital of Rs. $$35,000$$. The partners decided that the capital of firm be restructured on the basis of P share capital and capital of all the partners should be in their profit sharing ratio. What should be the combined capital of the existing partner after restructuring.

A and B are partners in a firm with profit sharing ratio of 2:3, they admit C as a partner for 1/3 share of profit. What would be the sacrificing ratio of A and B?

X and Y are two partners in a firm, they admitted C as a third partner for $$1_{/3}$$ share of profit. On admission of new partner old partner noticed an unrecorded assets of Rs. $$6,000$$ and unrecorded liability of Rs. $$2,000$$ which they want to account for before admission of a new partner in the books of a/c. What entry will be made for this revaluation?

A and B are partners in a firm with profit sharing ratio of $$3:2$$, they admit C as a partner for $$1_{/4}$$ share of profit. What would be the sacrificing ratio of A and B.

A, B and C are three partners in a partnership firm dealing in ready-made garments. A on his own without knowledge and consent of remaining partners enter into a forward trading of commodities and run into heavy losses, a can _______.

XYZ are three partners in a partnership firm dealing in fashionable garments. Z on his own without knowledge and consent of remaining partners signed an export order on which he made substantial profit. Z is liable to ________

In the absence of specific provisions in the partnership deed, every partner is bound to contribute ______ to the losses of the firm

Liability of a firm is.......

An expulsion sais to be in good faith if __________.

Select the odd one

Which of these is not a type of partner?

A partner can be expelled by majority decision when such power is ________.

XYZ a partnership firm was constituted on $$1-4-2013$$. On $$25$$th April the partners resolved to get the firm registered with the registrar of firm. The firm prepared the necessary documents for registration on $$26$$th April which were signed on $$28$$th April. They send the documents to the registrar office on $$30$$th April by Registered post which was received in the Registrar office on $$4$$th May $$2014$$. The registrar office filed the statement and entered the firms name in the register of firms on $$20$$th May $$14$$. The firm will be deemed to have been registered on.

Which of these events will not lead to re-constitution of the firm?

Which of these agreements are expressly declared to be void Rs. ______

Goods sold by other co-venture is debited to

From the following details find out the correct amount of trade debtors.
Debtors a/c appeared in the books of A/c Rs. $$69,985$$. Includes the following __________.
(i) Rs. $$6,500$$ due from an employee on account of temporary advance outstanding.
(ii) Rs. $$1,100$$ being goods used by the proprietor for self use.
(iii) Rs. $$990$$ due from X to whom the firm also owes Rs. $$500$$ on account of services rendered by him.

Which of these accounts are not opened in a Joint Venture

Joint Venture business is governed by...........

PQR are three partners in a partnership firm. As per the terms of partnership deed partners are charged $$6\%$$ interest on the drawing made by them during the year. For the year ending $$31$$st Dec. $$09$$. Q draws money from the firm as per the details given.
$$31$$st March Rs. $$1,000$$
$$31$$st May Rs. $$1,000$$
$$31$$st August Rs. $$3,000$$
$$30$$th November Rs. $$3,000$$
Calculate the interest on drawing to be charged from X.

A and B are two partners sharing profit and loss in the ratio of $$2:3$$. There capital A/c stood at Rs. $$20,000$$ and Rs. $$30,000$$ respectively on $$31$$st March $$07$$, and the balance sheet shows a general reserve of Rs. $$20,000$$. On $$1$$st April C is admitted for $$1/3$$rd share of profit for which he brings Rs. $$12,000$$ as his share of goodwill. On the date of his admission, Furniture and fitting is depreciated by Rs. $$2,000$$, stock appreciated by Rs. $$8,000$$ and provisions for bad debts also increased by Rs. $$2,000$$. Old partners decided that C's capital should be in accordance with his share of profit and capital of old partners. What amount C should bring as his share of capital in the firm.

A private limited can have .. members

X purchased a new office equipment for Rs. 50,000 on 1-04-09 he incurred Rs. 6,000 on its transportation and Rs. 4,000 on its erection and installation. The estimated useful life of the equipment is 10 years at the expiry of which the scrap value of the equipment will be Rs. 5,What is the depreciable value of the office equipment?

Balance in the Revaluation A/c is transferred to..........

There are three partners in a firm A, B and C. Sharing profit and loss in the ratio of 5:4:D is admitted into the firm with share of profit. What is the sacrificing ratio

A and B are two partners sharing profit and loss in the ratio of $$2:3$$. C is admitted as a third partner for which he brings Rs.$$6,000$$ in cash as his share of goodwill. The partners decided to share profit and loss in the ratio of $$4:5:6$$ in future. Find the sacrificing ratio.

Interest on capital of partner is a

The word partnership is derived from the word Part which means ..

A partnership firm cannot use which of the following words as a part of its name?

There are three partners in a firm A, B and C. D is admitted into the firm with share of profit with a guaranteed profit of Rs. 30,000 p.a. The firms total profit is Rs. 80,000, what amount would be given to X as his share of profit by the firm?

As per the Indian Partnership Act, the term Business does not include ..

XYZ are three partner sharing profit-and loss in the ratio of 3:2:The firm took Joint Life policy of Rs. 30,000 for X, Rs. 25,000 for Y and Rs. 18,000 for Z. What is the share of Z in the Joint life policy?

P and Q are two partners sharing profit and loss equally. P draws Rs. 2,000 at the end of each month for 6 months whereas O draw Rs 1,000 at the beginning of each month for six months. Assuming that interest on drawing is to be charged @ 6% p.a. Interest on drawing of P will be

An entry in the Register of firms can be made __________.

What is the gaining ratio of the remaining partners in question No.39

Non-registration of firm does not effect a suit or claim of set-off not exceeding

X, Y are two co-venturers. If X a- co-venturers takes away goods for his personal use. Under memorandum method which of these accounts would be credited to

Novation means