Accounting Questions

Which of the following is not a feature of a partnership?

Which among the following is NOT true?

The Profit and Loss Appropriation Account is merely an extension of the Profit and Loss Account of the firm. Which among the following is NOT shown in the Profit and Loss Appropriation Account?

Match List-I with List-II:List-IList-II(A) Bank (fresh capital introduced)(I) Debit side of Partner's Current Account(B) Interest on drawings(II) Debit side of Partner's Capital Account(C) Bank (permanent withdrawal of capital)(III) Credit side of Partner's Current Account(D) Commission(IV) Credit side of Partner's Capital AccountChoose the correct answer from the options given below:

Which of the following accounts/statements is prepared to distribute the profit or loss among partners?

The clauses of a partnership deed can be altered with the consent of ________.

Which of the following is a key feature of the Fixed Capital Method in Partnership Accounts?

Neha contributed $\text{Rs. }30,000$ and Saloni $\text{Rs. }90,000$ as capital. What will be Saloni's share in profits if the partnership agreement is silent regarding the profit-sharing ratio?

Calculate interest on drawings if Ram withdrew $\text{Rs. }3,000$ per month at the beginning of each month for the whole year, and interest on drawings is charged @ $9\%$ per annum.