Question 1 :
Under _______ there have been made rules regarding the dissolution of him.

Question 5 :
Which of the following is correct in respect of partnership accounts?<br/>1. In the absence of any provision in the partnership agreement to the contrary partners can charge interest at 6% p.a. on loans given by them to the partnership firm.<br/>2.&#160;An ordinary partnership firm can have not more than 50 partners<br/>3.&#160;A banking partnership firm can have not more than 50 partners<br/>4.&#160;In the absence of an agreed ratio in the agreement, partners will share profits and losses in the ratio their capitals.<br/>Select the correct answer using the codes given below.

Question 6 :
Partners are supposed to pay interest on drawing only when provided by the ______________.

Question 7 :
Choose the correct answer from the alternatives given.<br>Which one is correct

Question 8 :
The estate of a deceased partner is liable for any act of the firm done after his death.

Question 11 :
A change in the nature of the business can only be brought about by the consent of ____________.

Question 12 :
Partners can share profits or losses in their Capital ratio, when there is no agreement.

Question 13 :
The relationship between persons who have agreed to share the profit of a business carried on by all or any of them acting for all is know as.

Question 14 :
If current accounts are not being managed for a partnership firm then partners are maintaining _______________ accounts.

Question 15 :
Assertion: The auditor of a partnership firm is appointed under a contract with firm but not under any statute. Reason: The firm can also appoint him to act as an accountant for preparation of accounts.

Question 16 :
If there is no partnership deed then interest on capital will be changed at p.a.______.

Question 19 :
The balance in the investments Fluctuation Fund, after meeting the loss on revaluation of investment at the time of admission of a partner will be transferred to _____________ .

Question 21 :
If a fixed amount is withdrawn on the middle day of every month of a calendar year, the interest on the total amount of drawings will be calculated for ________.&#160;

Question 22 :
Partnership created for a particular adventure or a particular undertaking is called __________.

Question 23 :
Kamal and Vimal are partners in a firm. They share profits equally. Their monthly drawings are Rs 2,000 each. Interest on drawings is to be charged at 10% p.a. Calculate interest on Kamal and Vimal's drawings for the year 2016, assuming that amount is withdrawn in the beginning of every month.

Question 24 :
X and Y are partners with the capital of Rs. 50,000 and Rs. 30,000 respectively. Interest payable on capital is 10% p.a. Find the interest on capital for both the partners when the profits earned by the firm is Rs. 4,800?

Question 25 :
Ram is a partner. He made drawing as follows:<table class="wysiwyg-table"><tbody><tr><td>July 1</td><td>Rs.200</td></tr><tr><td>August 1</td><td>Rs.200</td></tr><tr><td>September 1</td><td>Rs.300</td></tr><tr><td>November 1</td><td>Rs.50</td></tr><tr><td>February 1</td><td>Rs.100</td></tr></tbody></table>If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:<br>

Question 26 :
For adjustment _______________, a statement of accounts to ascertain the net effect of omission on partner's capital accounts is to be worked out at first.

Question 27 :
Which of the following appear in the Profit &amp; Loss Appropriation Account?&#160;

Question 28 :
John, a partner in Modern Tours and Travels withdrew money during the year ending March 31, 2016 from his capital account, for his personal use. Calculate interest in drawings if rate of interest is $9$ per cent per annum and If he withdrew Rs. $3,000$ per month at the beginning of the month.<br>

Question 30 :
&#160;Amount realization&#160;from the sale of private estate of partners is used first to pay off ___________________.<br/>

Question 31 :
X,Y &amp; Z are partners sharing profits and losses in the ratio of 4:3:2. During 2015, their capital drawings &amp; salaries were as follows:<table class="wysiwyg-table"><tbody><tr><td>partners</td><td>capital (Rs.)</td><td>Salaries(Rs.)</td><td>Drawings (Rs.)</td></tr><tr><td><blockquote>X</blockquote></td><td><blockquote>2,40,000</blockquote></td><td><blockquote>12,000</blockquote></td><td><blockquote>12,000</blockquote></td></tr><tr><td><blockquote>Y</blockquote></td><td><blockquote>1,60,000</blockquote></td><td><blockquote>12,000</blockquote></td><td><blockquote>6,000</blockquote></td></tr><tr><td><blockquote>Z</blockquote></td><td><blockquote>1,00,000</blockquote></td><td><blockquote>12,000</blockquote></td><td><blockquote>3,000</blockquote></td></tr></tbody></table>Partners are entitled to interest on capital @ 5% p.a. Interest on drawings to be charged @ 8% p.a. The net profit for the year ended 31-12-2015 was Rs. 1,45,000. On 1-7-2015 X made advance of Rs. 1,00,000 to the firm at 6% P.a. Y's share of profit after above appropriation will be ___________.

Question 32 :
Ajay and Vijay are partners in a firm. Their capital accounts as on April 1, 2015 showed a balance of Rs $2,00,000$ and Rs $3,00,000$ respectively. On 1st july,2015, Ajay introduced additional capital of Rs $50,000$ and Vijay, Rs. $60,000$. On 1st Oct,&#160; Ajay withdrew Rs $30,000$, and on 1st Jan, 2016 Vijay withdraw, Rs $15,000$ from their capitals. Interest is allowed @ $8%$ p.a.<br/><br/> Calculate interest payable on capital to both the partners during the financial year 2015-2016.<br/>

Question 34 :
If any partner has advanced some money to the firm beyond the amount of his capital for the purpose of business, he shall be entitled to get an interest on the amount at the rate of _____ percent per annum.

Question 35 :
N &amp; Z are two partners. During the year N withdraws Rs. $37,000$ on $1-5-2012$ &amp; Z withdraws Rs. $45,000$ on $15-8-2012$. Accounts are closed on $31-12-2012$. Rate of interest on drawings is $10\%$ p.a. Interest on drawing for two partner respectively will be.