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प्रश्न
State whether the following statement are True or False.
Partners’ current account always shows credit balance.
विकल्प
True
False
उत्तर
False .
Explanation: It is not mandatory that the current account of a partner will always show a credit balance. It might show a debit balance when the partner has withdrawn more than his or her share of profits from the firm. Hence, the given statement is incorrect.
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संबंधित प्रश्न
What is ‘liability of partners’ ?
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Under which major headings and sub-heading will the following items be placed in the Balance Sheet of a company as per Schedule VI part I of the Companies Act, 1956 :
(1) Loans provided re-payable on demand.
(2) Goodwill
(3) Copyright
(4) General Reserve
(5) Cheques
(6) Loose tools
(7) A stock of finished goods
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Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per revised Schedule-VI, Part-I of the Companies Act, 1956:
i. Capital Reserve
ii. Bonds
iii. Loans repayable on demand
iv. Vehicles
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Answer in one sentence only.
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A partner who is engaged in day to day activities of the business.
Give the word / term or phrase which can substitute the following statement.
A partner below the age of 18 years.
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To close the business of partnership firm.
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Give the word / term or phrase which can substitute the following statement.
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Select the most appropriate alternative from those given below and rewrite the statement.
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Select the most appropriate alternative from those given below and rewrite the statement.
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Select the most appropriate alternative from those given below and rewrite the statement.
A partner who lends only his name to the firm is called as__________________ partner.
Select the most appropriate alternative from those given below and rewrite the statement.
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Select the most appropriate alternative from those given below and rewrite the statement.
The liability of the partner in a firm is__________________.
Select the most appropriate alternative from those given below and rewrite the statement.
Partnership is an association of__________________ or more persons.
Select the most appropriate alternative from those given below and rewrite the statement.
The drawings of partners are transferred to __________________ account.
State whether the following statement are True or False.
The interest on drawings is an income of the partnership firm.
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