All transactions relating to partners of the firm are recorded in the books of the firm through their (a)
Partnership Firm :Basic Concept Part -3

Quiz
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Other
•
12th Grade
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Medium
p2l iitm
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10 questions
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1.
DROPDOWN QUESTION
30 sec • 1 pt
2.
MATCH QUESTION
20 sec • 1 pt
the partners’ capital accounts shall always appear on the liabilities side in the
Profit and Loss Account
Balance sheet
Trading Account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are method by which the capital accounts of partners can be maintained.
(i) Fixed capital method
(ii) Fluctuating capital method
All of the above
Only(ii)
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Under the fluctuating capital method, only ___ _______ is maintained for each partner.
5.
REORDER QUESTION
45 sec • 1 pt
(a) of the firm are distributed / (b)in an agreed ratio./(c)The profits and losses/(d)among the partners
c,a,d,b
a,d,c,b
b,c,a,d
a,b,c,d
6.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
On the opening balance of the capital accounts of partners, interest is calculated for the _____ ____.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interest is calculated from the date of introduction of additional capital to the last day of the financial year.
true
false
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