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Commission payable to partner is _______ to the firm. - Book Keeping and Accountancy

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Question

Commission payable to partner is _______ to the firm.

Fill in the Blanks

Solution

Commission payable to partner is liability/outstanding expense to the firm.

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Provision of the Indian Partnership Act 1932
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Chapter 1: Introduction to Partnership and Partnership Final Accounts - Exercise 1.1 (Objective Questions) [Page 52]

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Balbharati Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 1 Introduction to Partnership and Partnership Final Accounts
Exercise 1.1 (Objective Questions) | Q I. E. 10) | Page 52

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