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प्रश्न
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
v. Goodwill
vi. Loose tools
उत्तर
| Items | SUB-Heads |
| i. Capital Reserves | Reserves and Surplus |
| ii. Bonds | Non-current Investment |
| iii. Loans repayable on de | Short-Term Borrowings |
| iv. Vehicles | Fixed Assets |
| v. Goodwill | Fixed Assets |
| vi. Loose Tools | Inventories |
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संबंधित प्रश्न
What is ‘liability of partners’ ?
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Answer in one sentence only.
Which act is applicable to partnership business?
Answer in one sentence only.
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Give the word / term or phrase which can substitute the following statement.
A partnership agreement between the partners in written form.
Give the word / term or phrase which can substitute the following statement.
A partner who is engaged in day to day activities of the business.
Answer in one sentence only.
Who is called a Minor Partner?
Give the word / term or phrase which can substitute the following statement.
An association of two or more persons to carry on business.
Select the most appropriate alternative from those given below and rewrite the statement.
A debit balance of partner’s current account will appear on the ___________ side of the Balance Sheet.
Select the most appropriate alternative from those given below and rewrite the statement.
Under fixed capital method, salary or commission to partner is credited to _______________ account.
Select the most appropriate alternative from those given below and rewrite the statement.
The interest on drawings is transferred to__________________ side of partner’s current account.
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.
Maximum __________________ persons are required to form a partnership having trading business.
State whether the following statement are True or False.
Partners must share profits and losses equally.
State whether the following statement are True or False.
The interest on drawings is an income of the partnership firm.
State whether the following statement are True or False.
The liability of minor partner is limited.
State whether the following statement are True or False.
Partners are entitled to get salary or commission.
P, Q, and R were partners in a firm. On 31st March 2018 R retired. The amount payable to R ₹ 2,17,000 was transferred to his loan account. R agreed to receive interest on this amount as per the provisions of Partnership Act, 1932. State the rate at which interest will be paid to R.
Assertion: Batman, a partner in a firm with four partners has advanced a loan of ₹ 50,000 to the firm for last six months of the financial year without any agreement. He claims an interest on loan of ₹ 3,000 despite the firm being in loss for the year.
Reasoning: In the absence of any agreement/provision in the partnership deed, provisions of Indian Partnership Act, 1932 would apply.
