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12th

grade

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class xii

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8 questions

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  • 1. Multiple Choice
    1 minute
    1 pt

    1. Interest on Partners’ Loan is to be treated as –-------

    a charge against profit

    an appropriation of profit

  • 2. Fill in the Blank
    30 seconds
    1 pt

    P and Q are partners in a firm. They are entitled to interest on their capitals but the net profit was not sufficient for this interest. The net profit will be distributed between partners in

  • 3. Fill in the Blank
    30 seconds
    1 pt

    3. What is the maximum number of partners that a partnership firm can have? Name the act that provides for maximum number of partners in a partnership firm.

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