12 questions
Partnership business is regulated under
Company act 1956
Company act 2019
Partnership act 1932
Partnership act 1919
As per company act 2013,the maximum partners should be for other business is
20
100
10
50
In the absence of partnership deed,the profits of a firm are divided among the partners
In the ratio of capital
Equally
Both A and B
None of the above
In the absence of partnership deed,interest on loan of a partner is allowed
@8% p.a
@6%p.a
@12% p.a
None of the above
The written document containing terms and conditions of partnership is known as
Partnership contract
Agreement
Partnership deed
None of the above
Interest on capital is provided to partners, when
Capital are more than ₹5,00,000/-
When business earn more profit
Drawing are not made by partners
It is provided in the partnership deed
Minimum numbers of persons to carryout partnership business
2
3
4
5
As per partnership deed is given,calculate interest of capital @10% p.a ,capital amount is 10,000/-.
100
1000
2000
500
In the absence of partnership deed,a active partner who manage the business should be entitled to
A monthly salary
Half yearly salary
One year package salary
None of the above
Golden rule of book keeping,Dr.the reciever Cr. the giver
Nominal account
Personal account
Real account
None of the these.
Real account relate to
Credit account
Debit account
Asset account
Expenses ccount
Rule for nominal account, income and gains is
Debited
Credited
Debited as well as credited
Niether debited nor credited