| 1 |
In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of. |
- A. Capitals
- B. Profit and loss ratios
- C. Equality
- D. Time devoted by each partner
|
| 2 |
Interest on drawing is debited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 3 |
Partnership is formed by the partners. |
- A. Written agreement
- B. Mutual consent
- C. Verbal agreement
- D. None of these
|
| 4 |
Maximum numebr of the partners in an ordinary Partinership. |
- A. Ten partners
- B. Twentry partners
- C. Thirty partners
- D. Fourth partners
|
| 5 |
A partner, who hasnot attained the age of majority is called. |
- A. Junior partner
- B. Minor partner
- C. Nominal patner
- D. Quasi Partner
|
| 6 |
The investment in partners capital accounts is to be credited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 7 |
When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called. |
- A. Fluctuating capitals
- B. Fixed capitals
- C. Current capitals
- D. None of these
|
| 8 |
If some proparty is owned jointly with out any attention to carry on a business it is called. |
- A. Partnership
- B. Co- ownership
- C. Sole ownership
- D. Agency
|
| 9 |
Capital of the partners are maintained under. |
- A. Fixed capital method
- B. Fluctuating method
- C. By any two of the above
- D. None of the above
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| 10 |
A paartner who have a major investment in the firm and receive a relatively more profit is called. |
- A. Sleeping partner
- B. Darment partner
- C. Senior partner
- D. Estoppels partner
|
