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Persons entering in a partnership individually are known as?
Interest on Capital is?
Partners' Current Accounts are opened when their Capital Accounts are
Fixed and Fluctuating both
Balance Sheet shows the financial position of the enterprise -----
At a particular point of time
For a period of time
None of these
A company's Balance sheet is prepared in the order of
All of these
Above normal profit
Below normal profit
When profit can't be calculated
Profit of last 4 years is 20,000; 30,000; 40,000 and 50,000. Number of years purchase is 2 years. Goodwill= ?
Negative Super Profit indicates that there is no goodwill of business concerned -
Both are un related
In absense of a partnership deed, interest on Loan is?
Given @ 12% p.a.
Given @ 6% p.a.
No fixed rates apply
Capital a/c of new partner
None of the above
When the incoming partner brings in his share of premium for goodwill in cash, it is adjusted by crediting
His capital A/c
Sacrificing partners' capital a/c
Old partner's capital account