Multiple choice-ACE01

Maximum number of members in a partnership firm performing banking business is:

In the absence of partnership deed interest on loan will be :

In the absence of partnership deed profit is divided in:

Liabilities of partners is:

Partnership deed means:

The balance of current account of the partner will always have:

Preparation of Partnership deed is:

When the new partner brings premium (goodwill) in cash, it is transferred to:

Interest on drawings is:

On the admission of partnership the profit on revaluation A/c should be enter-

On dissolution of firm, the balance of partner’s Loan A/c is transferred to:

Profit on revaluation is distributed in:

Profit on revaluation is transferred to:

New Ratio – Old Ratio:

A partnership deed is prepared:

Undistributed profit and reserves are transferred to:

Excess of actual profit over normal profit is called:

The essential element of partnership is:

Goodwill is:

In the absence of partnership deed interest on drawing will @pa