Partnership Deed and Accounting Quiz
Authored by COMMERCE GURUJI
Others
12th Grade
Used 1+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the minimum number of partners in a partnership firm?
50
100
2
None of the above.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the absence of partnership deed, interest on capital is allowed at the rate of:
6% p.a. simple interest
6% p.a. compound interest
12% simple interest
None of the above.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interest on Partner's Loan will be credited to:
Partner's Loan A/c
Partner's Capital A/c
Profit and Loss A/c
None of the above.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following items will be shown in Partner's Capital A/c under Fixed Capital method?
Drawings from profits
Drawings from capital
Interest on drawings
All of the above.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rent to a partner is shown in:
Dr. side of Profit And Loss Appropriation A/c
Cr. side of Profit And Loss Appropriation A/c
Dr. side of Profit And Loss A/c
Cr. side of Profit And Loss A/c.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limited Liability Partnerships came into existence in India after the enactment of:
Indian Partnership Act, 1932
Limited Liability Partnership Act, 1932
Limited Liability partnership Act, 2008
Indian companies Act, 2013.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The relation of partner with the firm is that of:
An owner
An agent
An owner and agent both
A manager.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
Already have an account?
