In a partnership, what is the term for the share of profit or loss that is allowed to a partner?
Anonymous Quiz
36%
Capital
9%
Drawings
13%
Salary
42%
Interest on Capital
When the new partner's share of goodwill is retained in the business, what is the entry?
Anonymous Quiz
34%
Debit New Partner's Capital Account, Credit Goodwill Account
27%
Debit Goodwill Account, Credit New Partner's Capital Account
8%
Debit New Partner's Loan Account, Credit Goodwill Account
32%
Debit Goodwill Account, Credit Old Partners' Capital Accounts
What is the accounting treatment for the new partner's capital introduced as a fixed asset?
Anonymous Quiz
50%
Debited to the new partner's capital account
16%
Credited to the new partner's loan account
21%
Debited to the new partner's current account
12%
Credited to the goodwill account
Average Propensity to consume can never be
Anonymous Quiz
14%
Positive
21%
Less than one
54%
Zero
11%
More than one
If at equilibrium level, national income is Rs. 2000 crores. Autonomous consumption is Rs. 400 crores and investment expenditure is Rs. 200 crores, then marginal propensity to consume will be:
Anonymous Quiz
21%
0.6
37%
0.5
28%
0.8
13%
0.7
If the ratio between MPC and MPS is 4:1, then value of multiplier is:
Anonymous Quiz
20%
3
39%
4
36%
5
5%
6
Question of the day ( This question was in boards in 2019)...
Ques: Name any two sources of demand for foreign exchange by households in an economy?
I hope you all are studying with full motivation and completing all the study work on daily basis.
Do I need to post descriptive questions ?
Anonymous Poll
78%
Yes, it will help
22%
No, MCQ's are fine
Today, I will be sharing accounting questions that appeared last year
Pass Necessary Journal Entries for the issue of debentures in the following cases:
a) Issued 50,000, 9% debentures of Rs. 100 each at par redeemable at par.
b) Issued 10,000, 8% debentures of Rs. 100 each at 7% premium redeemable at par.
c) Issued 750, 8% debentures of Rs. 100 each at 10% discount redeemable at par.
d) Issued 1000, 9% debentures of Rs.100each at 5% premium redeemable at8% premium.
e) Issued 500, 9% debentures of Rs.100 rach at 10% discount redeemable at 10% premium.
a) Issued 50,000, 9% debentures of Rs. 100 each at par redeemable at par.
b) Issued 10,000, 8% debentures of Rs. 100 each at 7% premium redeemable at par.
c) Issued 750, 8% debentures of Rs. 100 each at 10% discount redeemable at par.
d) Issued 1000, 9% debentures of Rs.100each at 5% premium redeemable at8% premium.
e) Issued 500, 9% debentures of Rs.100 rach at 10% discount redeemable at 10% premium.
The Above question was of 5 marks. I hope you guys will do it. Should u share the answers of descriptive?
Anonymous Poll
86%
Yes
14%
No
The partnership deed should be properly drafted and prepared as per the provisions of the -------------- and preferably registered with the --------------
Anonymous Quiz
56%
Indian Partnership Act 1932, Registrar of companies.
31%
Indian Partnership Act 1932, Registrar of Firms
6%
Stamp Act, Registrar of Companies.
7%
Stamp Act, Registrar of Firms.
The answer to the above descriptive will be posted at 4 pm today