| 1 |
The investment in partners capital accounts is to be credited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 2 |
In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of. |
- A. Capitals
- B. Profit and loss ratios
- C. Equality
- D. Time devoted by each partner
|
| 3 |
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of. |
- A. 5 persent
- B. 6 persent
- C. 8 persent
- D. 9 persent
|
| 4 |
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called. |
- A. Active partner
- B. Sleeping partner
- C. Secrete partner
- D. None of these
|
| 5 |
A partner who is newly admitted to the firm with the consent of all the parties is called. |
- A. Salaried partner
- B. Incoming partner
- C. Junior partner
- D. Minor partner
|
| 6 |
For the firm, interest on drawing is. |
- A. Expense
- B. Income
- C. Liability
- D. None of these
|
| 7 |
A partner does not take an acitive partner is the managment firm is called. |
- A. Active partner
- B. Sinior partner
- C. Darment of sleeping partner
- D. Nominal partner
|
| 8 |
In case of banking business, the numerb of persons must not exceed. |
- A. Ten (10)
- B. Twenty (20)
- C. Tweinty five(25)
- D. Fifty (50)
|
| 9 |
The owner of the partnership are called as. |
- A. Member
- B. Partners
- C. Share holder
- D. None of these
|
| 10 |
Partnership is formed by the partners. |
- A. Written agreement
- B. Mutual consent
- C. Verbal agreement
- D. None of these
|
