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- Multiple ChoicePlease save your changes before editing any questions.
Number of partners in a partnership firm may be
Maximum two
Maximum ten
Maximum one hundred
Maximum fifty
- Multiple ChoicePlease save your changes before editing any questions.
If the capital of a business is ₹ 5,00,000 and outside liabilities are ₹200,000. Calculate total assets of the business.
3,00,000
7,00,000
10,00,000
2,50,000
- Multiple ChoicePlease save your changes before editing any questions.
Amount which the proprietor has invested in a business is known as ......
Capital
Liability
Asset
Expenses
- Multiple ChoicePlease save your changes before editing any questions.
Amount which the firm owes to outsiders is known as.....
Capital
Expenses
Liability
Asset
- Multiple ChoicePlease save your changes before editing any questions.
Current Liabilities include:
Bills Payable
Creditors
Outstanding Expenses
All of the above
- Multiple ChoicePlease save your changes before editing any questions.
Assets held for continued use in the business and not meant for resale are termed as..........
Fixed asset
Current Asset
Tangible asset
Intangible Asset
- Multiple ChoicePlease save your changes before editing any questions.
.......... are those assets which have a physical existence and which can be seen or felt.
Current Asset
Wasteful Asset
Intangible Asset
Tangible Asset
- Multiple ChoicePlease save your changes before editing any questions.
Amount withdrawn by the owner for personal use......
Capital
Asset
Drawings
Liability
- Multiple ChoicePlease save your changes before editing any questions.
In the absence of partnerships deed profit will he shared
Equal ratio
Capital ratio
Both
None of these
- Multiple ChoicePlease save your changes before editing any questions.
In the absence of an agreement, int. On capital is
Not allowed
Allowed at bank rate
Allowed @ 5%
6%