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प्रश्न
The document which contains the terms of the agreement of partnership is called ______.
पर्याय
Partnership Deed
Agreement among partners
Both Partnership Deed and Agreement among partners.
Partnership Agreement
Partnership Contract
Partnership Rules
None of these
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उत्तर
The document which contains the terms of the agreement of partnership is called Partnership Deed.
Explanation:
The Partnership Act does not require the agreement to be written down. The paper containing the details of the agreement is called a 'Partnership Deed' wherever it is written. It generally contains information about all aspects of the partners' relationship, such as the business's goal, each partner's capital contribution, the ratio in which profits and losses will be shared by the partners, and the partners' entitlement to interest on capital, interest on the loan, and so on.
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संबंधित प्रश्न
Define Partnership Deed.
Discuss the main provisions of the Indian Partnership Act, 1932 that are relevant to partnership accounts if there is no partnership deed.
State whether the following statement is True or False with reasons.
If the partnership deed is silent, partners share profits and losses in proportion to their capital.
Partners share profit & losses in _______ ratio in the absence of partnership deed.
Answer in one sentence only.
Why is partnership deed necessary?
Answer in one sentence only.
If the Partnership Deed is silent, in which ratio, the partners will share the profit or loss?
Answer in one sentence only.
What is Partnership Deed?
What is the meaning of Partnership Deed?
A, B and C are partners, their partnership deed provides for interest on drawings at 8% per annum. B withdrew a fixed amount in the middle of every month, and his interest on drawings amounted to ₹ 4,800 at the end of the year. What was the amount of his monthly drawings?
Mohan and Sham are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
"Mohan is an active partner. He wants a salary of Rs. 10,000 per year".
Mohan and Sham are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
"Sham had advanced a loan to the firm. He claims interest @10% per annum".
Mohan and Sham are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
"Mohan has contributed Rs. 20.000 and Shyam Rs. 50.000 as capital. Mohan wants an equal share in profits."
In the absence of Partnership Deed, the profits of a firm are divided among the partners:
According to the Partnership Act, the relation of partnership arises from ______ and not from status.
The partner who provides capital and shares profit and loss in the partnership business but does not take an active part in the management is known as ______.
In the absence of a Partnership Deed, interest on a loan of a partner is allowed ______
When there is no partnership deed, the partners are entitled to which of the following?
Partners share profit & losses in ______ ratio in the absense of partnership deed.
Which of the following is ont considered a tool for formative assessment?
The branch of economics that deals with the allocation of resources.
- Micro economics
- Macro economics
- Econometrics
- None of these
Assertion: The SI system of units is the suitable system for measurements.
Reason: The SI unit of temperature is kelvin.
Which one of the following is correctly matched?
Write the word/phrase/term, which can substitute the following sentences.
Partnership agreement in written form.
Answer in one sentence only:
What is Partnership Deed?
When there is no partnership agreement between partners, the division of Profits takes place in ______ ratio.
Partners share profit & losses in ______ ratio in the absense of partnership deed.
Answer in one sentence only:
Why is Partnership Deed necessary?
|
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their fixed capitals were ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. Besides his capital Shiv had given a loan of ₹ 75,000 to the firm. Their partnership deed provided for the following:
During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year. The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750. |
How much amount of net profit will be transferred to Profit and Loss Appropriation A/c?
Richa and Anmol are partners sharing profits in the ratio of 3:2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @ 6% p.a. Anmol is to be allowed an annual salary of 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | -(2)- | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | -(1)- | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (1) will be:
Richa and Anmol are partners sharing profits in the ratio of 3:2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @ 6% p.a. Anmol is to be allowed an annual salary of 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | -(2)- | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | -(1)- | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
