HSC Arts (English Medium) 12th Standard Board Exam - Maharashtra State Board Question Bank Solutions

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.

Partners share profit & losses in _______  ratio in the absence of partnership deed.

Partnership Deed is an _____ of Partnership.

Partnership Deed is an _____ of Partnership.

Answer in one sentence only.

Why is partnership deed necessary?

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.

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?

Answer in one sentence only.

What is Partnership Deed?

Answer in one sentence only.

What is the provision of Indian Partnership Act with regard to Interest on Capital?

Answer in one sentence only.

What is the provision of Indian Partnership Act with regard to Interest on Capital?

When Partnership Deed is silent, Partners share profits of the firm according to capital ratio.

When Partnership Deed is silent, Partners share profits of the firm according to capital ratio.

The Common Size Statement requires _________.

Bill Payable is ___________

Give one word/term/phrase for the following statement.

The statement showing financial position for different periods of previous year and current year.

Give one word/term/phrase for the following statement.

Statement showing changes in cash and cash equivalent during a particular period.

Give one word/term/phrase for the following statement.

Activity related to acquisition of long term assets and investment.