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Which of the following is not incorporat...

Which of the following is not incorporated in the Partnership Act?

A

profit and loss are to be shared equally

B

no interest is to be charged on capital

C

all loans are to be charged interest @6% p.a.

D

all drawings are to be charged interest

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DK GOEL-ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS -Multiple Choice Questions (ii) Partnership Deed (HOTS)
  1. Forming a Partnership Deed is :

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  2. Partnership Deed is also called ………..

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  3. Which of the following is not incorporated in the Partnership Act?

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  4. When is the Partnership Act enforced?

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  5. In the absence of Partnership Deed, the interest is allowed on partner...

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  6. In the absence of a partnership deed, the allowable rate of interest o...

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  7. A and B are partners in partnership firm without any agreement. A has ...

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  8. A and B are partners in a partnership firm without any agreement. A de...

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  9. In the absence of partnership deed, the following rule will apply :

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  10. In the absence of agreement, partners are not entitled to :

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  11. Interest on capital will be paid to the partners if provided for in th...

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  12. Which one of the following items cannot be recorded in the profit and ...

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  13. If any loan or advance is provided by partner then, balance of such Lo...

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  14. A, B and C were Partners with capitals of Rs.50,000, Rs.40,000 and Rs....

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  15. X, Y and Z are partners in a firm. At the time of division of profit f...

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  16. X, Y and Z are partners in a firm. At the time of division of profit f...

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  17. On 1st June, 2018 a partner introduced in the firm additional capital ...

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  18. On 1st January 2019, a partner advanced a loan of Rs.1,00,000 to the f...

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  19. A partner introduced additional capital of Rs.30,000 and advanced a lo...

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  20. In the absence of partnership deed, partners share profits or losses :

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