Accounting for Partnership: Basic Concepts

CBSE Class 12 Accountancy · every board question from this chapter, 2023–2026

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Arora and Gurmeet were partners in a firm sharing profits and losses in the ratio of 3: 2. Starting from 1st October, 2024 Arora…2026
Anita and Priyal were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2024, their capital…2026
Shiv, Riya and Rohit were partners in a firm. On 1st October, 2024 Rohit had given a loan of ₹ 2,00,000 to the firm, at an…2026
Navya, Kartik and Saris were partners in a arm sharing profits and losses in the ratio of 4:3:1. Samir was given a guarantee that…2026
Munna and Sonu were partners in a firm sharing profits and losses in the ratio of 4: 1. Their fixed capitals were ₹ 40,00,000 and…2026
Dilshad, Ajit and Deepna were partners in a firm sharing profits and losses in the ratio of 2:2:1. Their fixed capitals were: ₹…2026
When capitals of the partners are fluctuating, then the adjustments for drawings, interest on drawings, interest on capital,…2026
Reena and Teena were partners in a firm sharing profits and losses in the ratio of 2: 1. Teena withdrew ₹ 20,000 at the beginning…2026
Anita and Priyal were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2024, their capital…2026
Nandita and Prabha were partners in a firm manufacturing furniture. They were sharing profits and losses in the ratio of 8:7.…2026
There are two statements Assertion and Reason (R): Assertion: Partnership Agreement becomes the basis of relationship among the…2026
Divya and Bholi were partners in a firm sharing profits and losses in the ratio of 3: 1. On 1st April, 2024, their fixed capitals…2026
Tula, Ram and Madhvi were partners in a arm. The partnership deed provided for interest on partners drawings @ 12% p.a. The firm…2026
Atul, Bajaj and Madan were partners in a firm sharing profits and losses in the ratio of 1: 2: 5. The partnership deed provides…2026
Amita, Shivani and Tarush were partners in a firm sharing profits and losses in the ratio of 4:3:2. Tarush's share of profit at…2026
Persons who have entered into partnership with one another are collectively called: OR In the absence of partnership deed,…2026
Dilshad, Ajit and Deepna were partners in a firm sharing profits and losses in the ratio of 2:2:1. Their fixed capitals were: ₹…2026
Tarun and Tej were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April 2024, Tej had given a loan of…2026
When capitals of the partners are fluctuating, then the adjustments for drawings, interest on drawings, interest on capital,…2026
Ankur and Angad were partners in a firm sharing profits and losses in the ratio of 8: 7. On 1st July, 2024, Angad advanced a loan…2026
Nidhi and Kunal were partners in a firm sharing profits and losses in the ratio of 4: 1. Their capitals were ₹ 3,00,000 and ₹…2026
Divya and Bholi were partners in a firm sharing profits and losses in the ratio of 3: 1. On 1st April, 2024, their fixed capitals…2026
Munna and Sonu were partners in a firm sharing profits and losses in the ratio of 4: 1. Their fixed capitals were ₹ 40,00,000 and…2026
Persons who have entered into partnership with one another are collectively called: OR In the absence of partnership deed,…2026
Ankur and Angad were partners in a firm sharing profits and losses in the ratio of 8: 7. On 1st July, 2024, Angad advanced a loan…2026
Nandita and Prabha were partners in a firm manufacturing furniture. They were sharing profits and losses in the ratio of 8:'7.…2026
Alok, Sarah and Aditya were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. On 1st January, 2025 Alok…2026
Nidhi and Kunal were partners in a firm sharing profits and losses in the ratio of 4: 1. Their capitals were ₹ 3,00,000 and ₹…2026
Anish, Neha and Bindu were partners in a firm sharing profits and losses in the ratio of 4: 2: 1. On 1st October, 2024 Anish…2026
Shiv, Riya and Rohit were partners in a firm. On 1st October, 2024 Rohit had given a loan ₹ 2,00,000 to the firm, at an interest…2026
Ankur and Angad were partners in a firm sharing profits and losses in the ratio of 8: 7. On 1st July, 2024, Angad advanced a loan…2026
Naisha, Mansi and Aakash were partners in a firm sharing profits and losses in the ratio of 3: 2: 2. On 1st January, 2025, Aakash…2026
Tula, Ram and Madhvi were partners in a arm. The partnership deed provided for interest on partners drawings @ 12% p.a. The firm…2026
Divya and Bholi were partners in a firm sharing profits and losses in the ratio of 3: 1. On 1st April, 2024, their fixed capitals…2026
There are two statements Assertion and Reason (R): Assertion: Partnership Agreement becomes the basis of relationship among the…2026
Persons who have entered into partnership with one another are collectively called: OR In the absence of partnership deed,…2026
Navya, Kartik and Saris were partners in a firm sharing profits and losses in the ratio of 4:3:1. Samir was given a guarantee…2026
Atul, Bajaj and Madan were partners in a firm sharing profits and losses in the ratio of 1: 2: 5. The partnership deed provides…2026
Arora and Gurmeet were partners in a firm sharing profits and losses in the ratio of 3: 2. Starting from 1st October, 2024 Arora…2026
Shiv, Riva and Rohit were partners in a firm. On 1st October, 2024 Rohit had given a loan of ₹ 2,00,000 to the firm, at an…2026
Munna and Sonu were partners in a firm sharing profits and losses in the ratio of 4: 1. Their fixed capitals were ₹ 40,00,000 and…2026
There are two statements Assertion and Reason (R): Assertion: Partnership Agreement becomes the basis of relationship among the…2026
When capitals of the partners are fluctuating, then the adjustments for drawings, interest on drawings, interest on capital,…2026
Nidhi and Kunal were partners in a firm sharing profits and losses in the ratio of 4: 1. Their capitals were ₹ 3,00,000 and ₹…2026
Nandita and Prabha were partners in a firm manufacturing furniture. They were sharing profits and losses in the ratio of 8:7.…2026
Amita, Shivani and Tarush were partners in a firm sharing profits and losses in the ratio of 4:3:2. Tarush's share of profit at…2026
Amita, Shivani and Tarush were partners in a firm sharing profits and losses in the ratio of 4:3:2. Tarush's share of profit at…2026
Dilshad, Ajit and Deepna were partners in a firm sharing profits and losses in the ratio of 2:2:1. Their fixed capitals were: ₹…2026
Tarun and Tej were partners in a Firm sharing profits and losses in the ratio of 3: 2. On 1st April 2024, Tej had given a loan of…2026
Arora and Gurmeet were partners in a firm sharing profits and losses in the ratio of 3: 2. Starting from 1st October, 2024 Arora…2026
Tarun and Tej were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April 2024, Tej had given a loan of…2026
Navya, Kartik and Saris were partners in a firm sharing profits and losses in the ratio of 4:3:1. Samir was given a guarantee…2026
Reena and Teena were partners in a firm sharing profits and losses in the ratio of 2: 1. Teena withdrew ₹ 20,000 at the beginning…2026
Atul, Bajaj and Madan were partners in a firm sharing profits and losses in the ratio of 1: 2: 5. The partnership deed provides…2026
Reena and Teena were partners in a firm sharing profits and losses in the ratio of 2: 1. Teena withdrew 20,000 at the beginning…2026
Tula, Ram and Madhvi were partners in a arm. The partnership deed provided for interest on partners drawings @ 12% p.a. The firm…2026
Anita and Priyal were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2024, their capital…2026
Bose and Roy were partners in a firm sharing profits and losses in the ratio of 2:1. Bose withdrew the following amounts from the…2026
Gupta and Veena were partners in a firm sharing profits and losses in the ratio of 2:1. Gupta withdrew the following amounts from…2026
Nandini and Reva were partners in a firm sharing profits and losses in the ratio of 5:23. Nandini withdrew the following amounts…2026
Sultan, Singh and Tutsi were partners in a firm sharing profits and losses in the ratio of 9: 7: 4. Their fixed capitals were ₹…2026
Sarita and Veena were partners in a firm sharing profits and losses in the ratio of 3:2. The balance in their capital and current…2026
Rohit, Ashish and Sameer entered into a partnership on 1st October, 2024 with capitals of 12,00,000; % 6,00,000 and 6,00,000…2026
Laxmi, Rani and Priya were partners in a firm sharing profits and losses in the ratio of 5: 7: 8. Their fixed capitals were ₹…2026
Sarita and Veena were partners in a firm sharing profits and losses in the ratio of 3:2. The balance in their capital and current…2026
Laxmi, Rani and Priya were partners in a firm sharing profits and losses in the ratio of 5: 7: 8. Their fixed capitals were ₹…2026
Sanjana and Mehul were partners in a firm sharing profits and losses in the ratio of 4: 1. From 1st April, 2025, they decided to…2026
Sultan, Singh and Tulsi were partners in a firm sharing profits and losses in the ratio of 9: 7: 4. Their fixed capitals were ₹…2026
Laxmi, Rani and Priya were partners in a firm sharing profits and losses in the ratio of 5: 7: 8. Their fixed capitals were ₹…2026
Sakshi and Anumita were partners in a firm sharing profits and losses in the ratio of 2: 3. From 1st April, 2025, they decided to…2026
Chaitanya and Divya were partners in a firm sharing profits and losses in the ratio of 2: 1. From 1st April 2025, they decided to…2026
Sarita and Veena were partners in a firm sharing profits and losses in the ratio of 3:2. The balance in their capital and current…2026
Sultan, Singh and Tutsi were partners in a firm sharing profits and losses in the ratio of 9: 7: 4. Their fixed capitals were ₹…2026
Shree and Hari were partners in a firm sharing profits and losses in the ratio of 2: 3. Their fixed capitals were ₹ 4,00,000 and…2026
Rohit, Ashish and Sameer entered into a partnership on 1st October, 2024 with capitals of 12,00,000; ₹ 6,00,000 and ₹ 6,00,000…2026
Rohit, Ashish and Sameer entered into a partnership on 1st October, 2024 with capitals of ₹ 12,00,000; 6,00,000 and ₹ 6,00,000…2026
Sudhir and Rajeev were partners in a firm sharing profits and losses in the ratio of 4: 3. Their partnership deed provided that…2026
Aditya and Anand were partners in a firm sharing profits and losses in the ratio of 4: 1. The partnership deed provided that…2026
Sara and Tara were partners in a firm. Their capitals as on 1st April, 2023 were ₹ 6,00,000 and ₹ 4,00,000 respectively. On 1st…2025
There are two statements Assertion and Reason (R): Assertion: The artners' fixed ca ital accounts alwa s show a credit balance,…2025
There are two statements Assertion and Reason (R): Assertion: Private assets of a partner can also be used for paying off the…2025
Ekta, Faguni and Garima were partners in a firm sharing profits and losses in the ratio of 5: 3: 1. Faguni was guaranteed ₹…2025
Ravi, Mohan and Vinod were partners in a firm sharing profits and losses in the ratio of 2: 2: 1. The partnership deed provided…2025
Assertion: Each partner carrying on the business of the firm is the principal as well as the agent for all the other partners of…2025
Elvis, Finch and Gordon entered into a partnership on 1st July, 2023 with capitals of ₹ 20,00,000 each. The partnership deed…2025
Eklavya, Fateh and Girish entered into a partnership firm on 1st January, 2024 with capitals of ₹ 30,00,000 each. The partnership…2025
Emily, Flora and Ginni entered into a partnership on 1st October, 2023 with capitals of ₹ 10,00,000 each. The partnership deed…2025
Emil y, Farida and Gauri were partners in a firm sharing profits and losses in the ratio of 4: 3: l. Farida was guaranteed ₹…2025
Eliza, Fenn and Garry were partners in a firm sharing profits and losses in the ratio of 4: 3: 1. Fenn was guaranteed ₹ 25,000 as…2025
There are two statements Assertion and Reason (R): Assertion: Partnership is the result of an agreement between two or more…2025
'The business of a partnershi firm may be carried on by all the partners or any of them acting for all.' The above statement…2025
Anuj and Kartik were partners in a firm sharing profits and losses in the ratio of 5: 4. Anuj withdrew ₹ 20,000 in the beginning…2025
Sun and Moon were partners in a firm sharing profits and losses equally. Their fixed capitals were ₹ 5,00,000 each. After the…2025
Radhika, Mehar and Shubha were partners in a firm sharing profits and losses in the ratio of 9: 8: 7. If Radhika's share of…2025
Saloni and Mohini were partners in a firm sharing profits and losses in the ratio of 3: 2. On 31st March, 2024, Saloni's capital…2025
Reema, Meesha and Shikha were partners in a partnership firm sharing profits and losses in the ratio of 8: 7: 5. On 1st October,…2025
'The business of a partnershi firm may be carried on by all the partners or any of them acting for a11.' The above statement…2025
Manav, Mayank and Manish were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. On 31st March, 2024, i their…2025
Nandita and Prabha were partners in a firm. Nandita withdrew ₹ 3,00,000 during the year for personal use. The partnership deed…2025
Sara and Tara were partners in a firm. Their capitals as on 1st April, 2023 were ₹ 6,00,000 and ₹ 4,00,000 respectively. On 1st…2025
Saloni and Mohini were partners in a firm sharing profits and losses in the ratio of 3: 2. On 31st March, 2024, Saloni's capital…2025
Assertion: Each partner carrying on the business of the firm is the principal as well as the agent for all the other partners of…2025
Reema, Meesha and Shikha were partners in a partnership firm sharing profits and losses in the ratio of 8: 7: 5. On 1st October,…2025
When the partners' capitals are fixed, the drawings made by a partner are recorded on the:2025
Radhika, Mehar and Shuhha were partners in a firm sharing profits and losses in the ratio of 9: 8: 7. If Radhika's share of…2025
Mohan, a partner, withdrew % 80,000 from the business for his personal use during the year ended 31st March, 2024. Interest on…2025
Assertion: The maximum number of partners in a partnership firm is 50. Reason (R): By virtue of the Companies Act 2013, the…2025
Assertion: Partners' solar is debited to Profit and Loss Appropriation Account and not to Profit and Loss Account. Reason (R):…2025
Ashok and Avinash were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2023, their capitals…2025
Nandita and Prabha were partners in a firm. Nandita withdrew ₹ 3,00,000 during the year for personal use. The partnership deed…2025
There are two statements Assertion and Reason (R): Assertion: The partners' fixed capital accounts always show a credit balance,…2025
Manoj, Dilip and Rajinder were partners in a firm sharing profits and losses in the ratio of 7: 3: 5. Their fixed capitals were ₹…2025
Reema, Meesha and Shikha were partners in a partnership firm sharing profits and losses in the ratio of 8: 7: 5. On 1st October,…2025
Radhika, Mehar and Shubha were partners in a firm sharing profits and losses in the ratio of 9: 8: 7. If Radhika's share of…2025
Sudha, a partner withdrew ₹ 12,000 on 31st October, 2023 for her personal use. Interest on drawings is charged @ 6% p.a. The…2025
Nandita and Prabha were partners in a firm. Nandita withdrew ₹ 3,00,000 during the year for personal use. The partnership deed…2025
Mohan, a partner, withdrew ₹ 80,000 from the business for his personal use during the year ended 31st March, 2024. Interest on…2025
Sudha, a partner withdrew ₹ 12,000 on 31st October, 2023 for her personal use. Interest on drawings is charged @ 6% p.a. The…2025
Manoj, Dilip and Rajinder were partners in a firm sharing profits and losses in the ratio of 7: 3: 5. Their fixed capitals were ₹…2025
Ravi, Mohan and Vinod were partners in a firm sharing profits and losses in the ratio of 2: 2: 1. The partnership deed provided…2025
Daksh and Moksh were partners in a firm. Moksh withdrew a fixed amount at the end of every quarter for the year ended 31st March,…2025
Radha and Rohit were partners in a firm. Radha withdrew a fixed amount at the beginning of every quarter for the year ended 31st…2025
Assertion: Partners' solar is debited to Profit and Loss Appropriation Account and not to Profit and Loss Account. Reason (R):…2025
Usha and Mohak were partners in a firm. Usha withdrew a fixed amount at the end of every half-year for the year ended 31st March,…2025
Anuj and Kartik were partners in a firm sharing profits and losses in the ratio of 5: 4. Anuj withdrew ₹ 20,000 in the beginning…2025
'The business of a partnershi firm may be carried on by all the partners or any of them acting for all.' The above statement…2025
Assertion: The maximum number of partners in a partnership firm is 50. Reason (R): By virtue of the Companies Act 2013, the…2025
Assertion: The maximum number of partners M a partnership firm is 50. Reason (R): By virtue of the Companies Act 2013, the…2025
Assertion: Partners' solar is debited to Profit and Loss Appropriation Account and not to Profit and Loss Account. Reason (R):…2025
Mohan, a partner, withdrew ₹ 80,000 from the business for his personal use during the year ended 31st March, 2024. Interest on…2025
Sun and Moon were partners in a firm sharing profits and losses equally. Their fixed capitals were ₹ 5,00,000 each. After the…2025
There are two statements Assertion and Reason (R): Assertion: Private assets of a partner can also be used for paying off the…2025
When the partners' capitals are fixed, the drawings made by a partner are recorded on the:2025
Ashok and Avinash were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2023, their capitals…2025
Saloni and Mohini were partners in a firm sharing profits and losses in the ratio of 3: 2. On 31st March, 2024, Saloni's capital…2025
Sun and Moon were partners in a firm sharing profits and losses equally. Their fixed capitals were ₹ 5,00,000 each. After the…2025
Ashok and Avinash were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2023, their capitals…2025
Sara and Tara were partners in a firm. Their capitals as on 1st April, 2023 were ₹ 6,00,000 and ₹ 4,00,000 respectively. On 1st…2025
Assertion: Each partner carrying on the business of the firm is the principal as well as the agent for all the other partners of…2025
Manav, Mayank and Manish were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. On 31st March, 2024, i their…2025
Anuj and Kartik were partners in a firm sharing profits and losses in the ratio of 5: 4. Anuj withdrew ₹ 20,000 in the beginning…2025
Sudha, a partner withdrew ₹ 12,000 on 31st October, 2023 for her personal use. Interest on drawings is charged @ 6% p.a. The…2025
Manoj, Dilip and Rajinder were partners in a firm sharing profits and losses in the ratio of 7: 3: 5. Their fixed capitals were ₹…2025
When the partners' capitals are fixed, the drawings made by a partner are recorded on the:2025
There are two statements Assertion and Reason (R): Assertion: The partners' fixed capital accounts always show a credit balance,…2025
There are two statements Assertion and Reason (R): Assertion: Partnership is the result of an agreement between two or more…2025
Manav, Mayank and Manish were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. On 31st March, 2024, their…2025
There are two statements Assertion and Reason (R): Assertion: Private assets of a partner can also be used for paying off the…2025
Ravi, Mohan and Vinod were partners in a firm sharing profits and losses in the ratio of 2: 2: 1. The partnership deed provided…2025
There are two statements Assertion and Reason (R): Assertion: Partnership is the result of an agreement between two or more…2025
Daya and Deena were partners in a firm sharing profits and losses in the ratio of 3: 1. On 1st April, 2023, their capital…2025
On 1st April, 2023, Jain and Gupta started a partnership firm with fixed capitals of 15,00,000 and 12,00,000 respectively. They…2025
Prathma, Madhyama and Tritiya were partners in a firm sharing profits and losses in the ratio of 2: 2: 1. On 1st April, 2023,…2025
Sudha and Sudhir were partners in a firm sharing profits and losses in the ratio of 4: 1. On 1st April, 2023, their fixed…2025
Suman and Lata were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2023, their capital…2025
Devi and Anupam were partners in a firm. Their fixed capitals were ₹ 9,00,000 and 6,00,000 respectively on 1st April, 2023. The…2025
Aman, Raj and Suresh were partners in a firm sharing profits and losses in the ratio of 5: 3: 8. Suresh was guaranteed a minimum…2025
Abhay and Sujoy entered into partnership on 1st April, 2024 with capitals of ₹ 80,00,000 and ₹ 60,00,000 respectively. The…2025
Aakash and P aadal entered into partnership on 1st October, 2023 with the capitals of ₹ 80,00,000 and ₹ 60,00,000 respectively.…2025
Aman, Raj and Suresh were partners in a firm sharing profits and losses in the ratio of 5: 3: 8. Suresh was guaranteed a minimum…2025
Aman, Raj and Suresh were partners in a firm sharing profits and losses in the ratio of 5: 3: 8. Suresh was guaranteed a minimum…2025
Abhay and Sujoy entered into partnership on 1st April, 2024 with capitals of ₹ 80,00,000 and ₹ 60,00,000 respectively. The…2025
Aakash and P aadal entered into partnership on 1st October, 2023 with the capitals of ₹ 80,00,000 and ₹ 60,00,000 respectively.…2025
Aakash and P aadal entered into partnership on 1st October, 2023 with the capitals of ₹ 80.00.000 and ₹ 60,00,000 respectively.…2025
Abhay and Sujoy entered into partnership on 1st April, 2024 with capitals of ₹ 80,00,000 and ₹ 60,00,000 respectively. The…2025
Assertion: In partnership firm, the private assets of the partners can also be used to pay off the firm's debts. Reason (R): The…2024
A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only more partners can be admitted in the…2024
Ridhima and Kavita were partners sharing profits and losses in the ratio of 3: 2. Their fixed capitals were ₹ 1,50,000 and ₹…2024
Kanha, Resham and Nisha were partners in a firm. Nisha had given a loan of ₹ 1,00,000 to the firm @ 10% p.a. The accountant of…2024
Shrikant and Ajay were partners in a firm sharing profits and losses in the ratio of 5: 3. Shrikant withdrew ₹ 10,000 in the…2024
Which of the following items cannot be recorded in the capital account of partners if the capital accounts of partners are fixed?2024
Abhay, Boris and Chetan were partners in a firm sharing profits in the ratio of 5: 3: 2. Boris was guaranteed a profit of ₹…2024
Assertion: In partnership firm, the private assets of the partners can also be used to pay off the firm's debts. Reason (R): The…2024
On 1st January, 2023, Abhishek, a partner, advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership agreement,…2024
Vishnu and Mishu are partners in a firm. Mishu draws a fixed amount at the end of every quarter. Interest on drawings is charged…2024
Keshav and Hitesh are partners sharing profits and losses in the ratio of 3: 2. On 31st March, 2023 after division of profit of ₹…2024
On 1st January, 2023, Abhishek, a partner, advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership agreement,…2024
Ridhima and Kavita were partners sharing profits and losses in the ratio of 3: 2. Their fixed capitals were ₹ 1,50,000 and ₹…2024
Ridhima and Kavita were partners sharing profits and losses in the ratio of 3: 2. Their fixed capitals were ₹ 1,50,000 and ₹…2024
Assertion: Under the fixed capital method, partners' capital accounts always show a credit balance. Reason (R): Under the fixed…2024
Abhay, Boris and Chetan were partners in a firm sharing profits in the ratio of 5: 3: 2. Boris was guaranteed a profit of ₹…2024
Keshav and Hitesh are partners sharing profits and losses in the ratio of 3: 2. On 31st March, 2023 after division of profit of ₹…2024
Assertion: Each partner is a principal as well as an agent for all the other partners. Reason (R): As per the definition of…2024
Assertion: Partner cur Q' 1-ent accounts maintained under ' Fixed Capital Method may show a debit or a credit balance. Reason…2024
Assertion: Each partner is a principal as well as an agent for all the other partners. Reason (R): As per the definition of…2024
Vanya and Aanya were partners in a firm sharing profit and losses in the ratio of 3:2. Their capital were ₹ 5,00,000 and ₹…2024
Abha and Babita were partners in a clay toy making firm sharing profits in the ratio of 2: 1. On 1st April, 2023, their capital…2024
Abha and Babita were partners in a clay toy making firm sharing profits in the ratio of 2: 1. On 1st April, 2023, their capital…2024
Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The partnership deed provided…2024
Which one of the following items is not dealt through Profit and Loss Appropriation Account? OR At the time of admission of a…2024
Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The partnership deed provided…2024
Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The partnership deed provided…2024
Abha and Babita were partners in a clay toy making firm sharing profits in the ratio of 2: 1. On 1st April, 2023, their capital…2024
Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The partnership deed provided…2024
Abha and Babita were partners in a clay toy making firm sharing profits in the ratio of 2: 1. On 1st April, 2023, their capital…2024
Abha and Babita were partners in a clay toy making firm sharing profits in the ratio of 2: 1. On 1st April, 2023, their capital…2024
Abha and Babita were partners in a clay toy making firm sharing profits in the ratio of 2: 1. On 1st April, 2023, their capital…2024
Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The partnership deed provided…2024
Which one of the following items is not dealt through Profit and Loss Appropriation Account? OR At the time of admission of a…2024
Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The partnership deed provided…2024
Maki, Ruhi and Ginni are partners in a firm sharing profits and losses in the ratio of 6: 4: 1. Maki guaranteed a profit of ₹…2024
Vishnu and Mishu are partners in a firm. Mishu draws a fixed amount at the end of every quarter. Interest on drawings is charged…2024
Abhay, Boris and Chetan were partners in a firm sharing profits in the ratio of 5: 3: 2. Boris was guaranteed a profit of ₹…2024
Aditi and Saurabh were partners in a firm sharing profits and losses in the ratio of 2:1. On 1st April, 2022 their capitals were…2024
Shrikant and Ajay were partners in a firm sharing profits and losses in the ratio of 5: 3. Shrikant withdrew ₹ 10,000 in the…2024
Assertion: In partnership firm, the private assets of the partners can also be used to pay off the firm's debts. Reason (R): The…2024
Keshav and Hitesh are partners sharing profits and losses in the ratio of 3: 2. On 31st March, 2023 after division of profit of ₹…2024
Aditi and Saurabh were partners in a firm sharing profits and losses in the ratio of 2:1. On 1st April, 2022 their capitals were…2024
Aditi and Saurabh were partners in a firm sharing profits and losses in the ratio of 2:1. On 1st April, 2022 their capitals were…2024
Aditi and Saurabh were partners in a firm sharing profits and losses in the ratio of 211. On 1st April, 2022 their capitals were…2024
Assertion: Each partner is a principal as well as an agent for all the other partners. Reason (R): As per the definition of…2024
Maki, Ruhi and Ginni are partners in a firm sharing profits and losses in the ratio of 6: 4: 1. Maki guaranteed a profit of ₹…2024
Aditi and Saurabh were partners in a firm sharing profits and losses in the ratio of 2:1. On 1st April, 2022 their capitals were…2024
Which of the following items cannot be recorded in the capital account of partners if the capital accounts of partners are fixed?2024
Keshav and Hitesh are partners sharing profits and losses in the ratio of 3: 2. On 31st March, 2023 after division of profit of ₹…2024
Keshav and Hitesh are partners sharing profits and losses in the ratio of 3: 2. On 31st March, 2023 after division of profit of ₹…2024
A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only more partners can be admitted in the…2024
Assertion: Under the fixed capital method, partners' capital accounts always show a credit balance. Reason (R): Under the fixed…2024
Shrikant and Ajay were partners in a firm sharing profits and losses in the ratio of 5: 3. Shrikant withdrew ₹ 10,000 in the…2024
Vishnu and Mishu are partners in a firm. Mishu draws a fixed amount at the end of every quarter. Interest on drawings is charged…2024
Which of the following items cannot be recorded in the capital account of partners if the capital accounts of partners are fixed?2024
Vanya and Aanya were partners in a firm sharing profit and losses in the ratio of 3:2. Their capital were ₹ 5,00,000 and ₹…2024
On 1st January, 2023, Abhishek, a partner, advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership agreement,…2024
Keshav and Hitesh are partners sharing profits and losses in the ratio of 3: 2. On 31st March, 2023 after division of profit of ₹…2024
Kanha, Resham and Nisha were partners in a firm. Nisha had given a loan of ₹ 1,00,000 to the firm @ 10% p.a. The accountant of…2024
Vanya and Aanya were partners in a firm sharing profit and losses in the ratio of 3:2. Their capital were ₹ 5,00,000 and ₹…2024
Vivek and Nisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capitals were…2024
A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only more partners can be admitted in the…2024
Vivek and Nisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capitals were…2024
Assertion: Partners' current accounts maintained under 'Fixed Capital Method' may show a debit or a credit balance. Reason (R):…2024
Which one of the following items is not dealt through Profit and Loss Appropriation Account? OR At the time of admission of a…2024
Vivek and Nisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capitals were…2024
Assertion: Partners' current accounts maintained under 'Fixed Capital Method' may show a debit or a credit balance. Reason (R):…2024
Vivek and Nisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capitals were…2024
Vivek and Nisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capitals were…2024
Maki, Ruhi and Ginni are partners in a firm sharing profits and losses in the ratio of 6: 4: 1. Maki guaranteed a profit of ₹…2024
Vivek and Nisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capitals were…2024
Assertion: Under the fixed capital method, partners' capital accounts always show a credit balance. Reason (R): Under the fixed…2024
Kanha, Resham and Nisha were partners in a firm. Nisha had given a loan of ₹ 1,00,000 to the firm @ 10% p.a. The accountant of…2024
Anvi, Vani and Kazan were partners in a firm sharing profits in the ratio of 2: 2: 1. Their fixed capitals were ₹ 4,00,000, ₹…2024
Asha, Nisha and Hit en were partners in a firm sharing profits and losses in the ratio of2: 2: 1. Their fixed capitals were ₹…2024
Anand, Rid hi and Shy am were partners in a firm sharing profits and losses in the ratio of2: 2: 1. Their fixed capitals were ₹…2024
Mohan, Suhaan and Adit were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2024
Misha and Prisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capital…2024
Misha and Prisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capital…2024
Piya and Rosa were partners in a firm sharing profits and losses in the ratio of 3:5. Their fixed capitals were ₹ 10,00,000 and ₹…2024
Misha and Prisha were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2022, their capital…2024
Mohan, Suhaan and Adit were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2024
Atul and Gita were partners in a firm sharing profits and losses in the ratio of 3:2. Their fixed capitals were ₹ 4,00,000 and ₹…2024
Mohan, Suhaan and Adit were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2024
Rajesh and Anu were partners in a firm sharing profits and losses in the ratio of 1:2. Their fixed capitals were ₹ 6,00,000 and ₹…2024
Vijay and Ajay are partners in a firm. The partnership agreement provides for interest on drawings @ 12% per annum. Which of the…2023
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. After…2023
Ram and Mohan were partners with fixed capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. As per their partnership deed,…2023
Assertion: Increase in the value of liabilities on reconstitution of a firm is debited to Revaluation Account. Reason (R):…2023
Hina and Neena are partners in a firm. Neena withdrew ₹ 10,000 per month at the beginning of each month during the year ended…2023
Ram and Mohan were partners with fixed capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. As per their partnership deed,…2023
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. After…2023
is the basis of relationship between the partners to run the partnership business. OR At the time of change in profit sharing…2023
Assertion: Under the fluctuating capital method, the balance in the capital account fluctuates from time to time. Reason (R):…2023
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2023
Assertion: Partnership is the relation between persons who have agreed to share the profits of the business carried on by all or…2023
Aman and Chaman are partners in a firm. On 1st July, 2021 Aman advanced a loan of ₹ 6,00,000 to the firm. There is no partnership…2023
'A' and 'B' were partners in a firm sharing pr ofits and losses in the ratio of 7: 1. 'A' withdrew a fixed amount of ₹ 12,000 at…2023
Assertion: Interest on p artners' loan is debited to Profit and Loss Account. artners' loan is a charge against profits. Reason…2023
is the basis of relationship between the partners to run the partnership business. OR At the time of change in profit sharing…2023
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2023
Assertion: Partnership is the relation between persons who have agreed to share the profits of the business carried on by all or…2023
On 1st October 2020, Amit, a partner, advanced a loan of ₹ 1,20,000 to the firm. In the absence of partnership deed, the amount…2023
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. After…2023
Abhay and Ravi were partners in a firm sharing profits and losses in the ratio 2:1. During the year, Abhay withdrew ₹ 6,000 in…2023
Rita and Usha were partners in a firm sharing profits and losses in the ratio of 3:5. During the year Usha withdrew ₹ 15,000 at…2023
Suchi and Ruchi were partners in a firm sharing profits and losses equally. Throughout the year Ruchi withdrew ₹ 12,000 in the…2023
Vijay and Ajay are partners in a firm. The partnership agreement provides for interest on drawings @ 12% per annum. Which of the…2023
On the reconstitution of a firm the value of furniture increased from ₹ 7,00,000 to ₹ 8,00,000 and stock reduced to ₹ 4,00,000…2023
is the basis of relationship between the partners to run the partnership business. OR At the time of change in profit sharing…2023
On reconstitution of a firm, the value of machinery was depreciated by ₹ 1,00,000 and investments increased to ₹ 70,000 from ₹…2023
Assertion: Interest on p artners' loan is debited to Profit and Loss Account. Reason (R): Interest on p artners' loan is a charge…2023
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. After…2023
On the reconstitution of a firm, the value of the land was appreciated by ₹ 2,00,000 and plant and machinery reduced to ₹…2023
'A' and 'B' were partners in a firm sharing profits and losses in the ratio of 7: 1. 'A' withdrew a fixed amount of ₹ 12,000 at…2023
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2023
Akshita and Anurag are partners in a firm sharing profits in the ratio of 2: 1. Akshat is admitted in the firm with 1/3 share in…2023
Amit, Sumit and Kiara are partners sharing profits and losses in the ratio 2: 2: 1. Sumit is entitled to a commission of 15% on…2023
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. After…2023
Assertion: Interest on p artners' loan is debited to Profit and Loss Account. Reason (R): Interest on p artners' loan is a charge…2023
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2023
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. After…2023
Amit, Sumit and Kiara are partners sharing profits and losses in the ratio 2: 2: 1. Sumit is entitled to a commission of 15% on…2023
Vikram and Sumit were partners in a firm sharing profits and losses in the ratio of 2: 1. The capitals of Vikram and Sumit after…2023
Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3: 2. Their fixed capitals are ₹ 1,80,000,…2023
Vijay and Ajay are partners in a firm. The partnership agreement provides for interest on drawings @ 12% per annum. Which of the…2023
Assertion: Under the fluctuating capital method, the balance in the capital account fluctuates from time to time. Reason (R):…2023
Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3: 2. Their fixed capitals are ₹ 1,80,000,…2023
Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3: 2. Their fixed capitals are ₹ 1,80,000,…2023
Anu, Charu and Divya are partners sharing profits and losses in the ratio of 2: 1: 2. Their capitals were ₹ 5,00,000, ₹ 3,00,000…2023
Anu, Charu and Divya are partners sharing profits and losses in the ratio of 2: 1: 2. Their capitals were ₹ 5,00,000, ₹ 3,00,000…2023
Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3: 2. Their fixed capitals are ₹ 1,80,000,…2023
Anu, Charu and Divya are partners sharing profits and losses in the ratio of 2: 1: 2. Their capitals were ₹ 5,00,000, ₹ 3,00,000…2023
Anu, Charu and Divya are partners sharing profits and losses in the ratio of 2: 1: 2. Their capitals were ₹ 5,00,000, ₹ 3,00,000…2023
Anu, Charu and Divya are partners sharing profits and losses in the ratio of 2: 1: 2. Their capitals were ₹ 5,00,000, ₹ 3,00,000…2023
Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3: 2. Their fixed capitals are ₹ 1,80,000,…2023
Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3: 2. Their fixed capitals are ₹ 1,80,000,…2023
'A' and 'B' were partners in a firm sharing profits and losses in the ratio of 7: 1. 'A' withdrew a fixed amount of ₹ 12,000 at…2023
Anu, Charu and Divya are partners sharing profits and losses in the ratio of 2: 1: 2. Their capitals were ₹ 5,00,000, ₹ 3,00,000…2023
Ram and Mohan were partners with fixed capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. As per their partnership deed,…2023
Aman and Chaman are partners in a firm. On 1st July, 2021 Aman advanced a loan of ₹ 6,00,000 to the firm. There is no partnership…2023
On 1st October 2020, Amit, a partner, advanced a loan of ₹ 1,20,000 to the firm. In the absence of partnership deed, the amount…2023
Hina and Neena are partners in a firm. Neena withdrew ₹ 10,000 per month at the beginning of each month during the year ended…2023
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2023
On 1st October 2020, Amit, a partner, advanced a loan of ₹ 1,20,000 to the firm. In the absence of partnership deed, the amount…2023
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5:3:2. Their fixed capitals were ₹ 6,00,000, ₹…2023
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 51312. Their fixed capitals were ₹ 6,00,000, ₹…2023
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹…2023
Hina and Neena are partners in a firm. Neena withdrew ₹ 10,000 per month at the beginning of each month during the year ended…2023
Assertion: Increase in the value of liabilities on reconstitution of a firm is debited to Revaluation Account. Reason (R):…2023
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5:3:2. Their fixed capitals were ₹ 6,00,000, ₹…2023
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 51312. Their fixed capitals were ₹ 6,00,000, ₹…2023
Assertion: Partnership is the relation between persons who have agreed to share the profits of the business carried on by all or…2023
If a fixed amount is withdrawn by a partner at the end of each quarter, 'interest on drawings' on the total amount withdrawn will…2023
Aman and Chaman are partners in a firm. On 1st July, 2021 Aman advanced a loan of ₹ 6,00,000 to the firm. There is no partnership…2023
Niva, Naman and Nityam were partners sharing profits in the ratio of 1 from their share to Nityam on 4: 3: 2. Niva and Naman each…2023
Amit, Sumit and Kiara are partners sharing profits and losses in the ratio 2: 2: 1. Sumit is entitled to a commission of 15% on…2023
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5:3:2. Their fixed capitals were ₹ 6,00,000, ₹…2023
Niva, Naman and Nityam were partners sharing profits in the ratio of 1 from their share to Nityam on 4: 3: 2. Niva and Naman each…2023
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5:3:2. Their fixed capitals were ₹ 6,00,000, ₹…2023
If a fixed amount is withdrawn by a partner at the beginning of each month, interest on drawings on the total amount will be…2023
Assertion: Under the fluctuating capital method, the balance in the capital account fluctuates from time to time. Reason (R):…2023
Niva, Naman and Nityam were partners sharing profits in the ratio of 1 from their share to Nityam on 4: 3: 2. Niva and Naman each…2023
Raman, Manan and Naman were partners sharing profit in the ratio of 2: 1: 1. Raman withdrew ₹ 3,000 every month and Manan…2023
Mohan, Sohan and Suresh were partners in a firm sharing profits in the ratio of 2:2:1. Suresh was guaranteed a profit of ₹…2023
Monika, Bhoomika and Kamolika are partners sharing profits in the ratio of 6: 4: 1. Kamolika is guaranteed a minimum amount of ₹…2023
Mohan, Sohan and Suresh were partners in a firm sharing profits in the ratio of 2:2:1. Suresh was guaranteed a profit of ₹…2023
Ashy, Disha and Raghav were partners in a firm sharing profits in the ratio of 2: 3: 1. According to the partnership agreement,…2023
Raman, Manan and Naman were partners sharing profit in the ratio of 2: 1: 1. Raman withdrew ₹ 3,000 every month and Manan…2023
Asha, Disha and Raghav were partners in a firm sharing profits in the ratio of 2: 3: 1. According to the partnership agreement,…2023
Mohan, Sohan and Suresh were partners in a firm sharing profits in the ratio of 2:2:1. Suresh was guaranteed a profit of ₹…2023
Asha, Disha and Raghav were partners in a firm sharing profits in the ratio of 2: 3: 1. According to the partnership agreement,…2023
Raman, Manan and Naman were partners sharing profit in the ratio of 2: 1: 1. Raman withdrew ₹ 3,000 every month and Manan…2023
Monika, Bhoomika and Kamolika are partners sharing profits in the ratio of 6: 4: 1. Kamolika is guaranteed a minimum amount of ₹…2023
Monika, Bhoomika and Kamolika are partners sharing profits in the ratio of 6: 4: 1. Kamolika is guaranteed a minimum amount of ₹…2023
Aditi, Bobby and Krish were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. Their capitals were ₹…2023
Raj, Mehak and Divya were partners in a firm sharing profits and losses in the ratio of 2: 2: 1. Their respective capitals were:…2023
A, B and C were partners in a firm sharing profits and losses equally. Their respective capitals were ₹ 10,00,000, ₹ 9,00,000 and…2023

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