1. Drawings of the partners are

2. Partnership business must be

3. X and Y are partners sharing profits and losses in the ratio of 3 : 2 having fixed capitals of ₹1,50,000 and ₹2,00,000 respectively. The partnership deed provides for interest on capital @ 8% p.a. The Net Profit of the firm during 2019-20 was ₹21,000. In what ratio the appropriation of profit will be made?

4. An incoming partner pays his share of good will in cash, and profit sharing ration of old partner is changed, Good - will be distributed among old partners

5. Retirement or death of a partner.

6. Which accounts prepared for partners under Fixed Fluctuating Capital Accounts method

7. Under fixed capital methods, profit will be credited to

8. Investment in partnership is made by introducing

9. Under capitalization method of goodwill valuation, which of the following formulas is used to calculate the value of whole business?

10. New investment by any partner in the partnership type of business is _______ to the partners capital account

11. Which Indian Act define Partnership Rules Terms & Conditions

12. A credit balance on a partners current Account is.

13. Reena and Raman are partners with capitals of ₹3,00,000 and ₹1,00,000 respectively. The profit (as per Profit and Loss Account) for the year ended March 31, 2020 was ₹1,20,000. Interest on capital is to be allowed at 6% p.a. Raman was entitled to a salary of ₹30,000 p.a. The drawings of partners were ₹30,000 and 20,000. The interest on drawings to be charged to Reena was Rs. 1,000 and to Raman, ₹500. Their share of profit after necessary appropriations are:

14. Which of the following is not a content of partnership deed?

15. Profit and Loss appropriation account is differ from Profit and Loss account as it is prepared by

16. Which one of the following is the method of goodwill valuation?

17. What is Goodwill?

18. When a partner dies, firm will receive the

19. The partnership that is made in accordance with the Act, is called

20. An ordinary partnership business can have

21. Which Section of the Partnership Act defines Partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all?

22. Liability of partners in a partnership business is

23. Interest payable on the capitals of partners is written

24. Dev withdrew `10,000 on 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Interest on Dev's drawings will be:

25. A person who declares by word of mouth as partner of the firm is called