Partnership is a legal relationship between persons according the

The profit sharing ratio among the partner may be----- from the ratio to share losses.

The maximum number of persons permitted to form a partnership for banking business are ____ partners

The partnership cannot be formed to share ____only

The persons who have agreed to carry on the partnership ____

It is a ____relationship between persons created through the partnership act 1932

The partnership agreement can be ____or written

In the partnership business the partners are collectively called ____

To admit a new partner with consent to ____ partners

In absence of agreement, partners share profit on loss in____

____ number of partners allowed in case of Retail business.

The minor partner cannot be personally liable to share ____ of the firm.

In absence of agreement, Interest on loan at ____% p a is payable by the firm.

Partners can contribute capital either in cash/bank or ____

The persons who have agreed to carry on partnership business are ____ known as partners and ____ called as a ____

The partnership cannot be formed to do ____ business

The partners may share profit and losses of the firm ____ ratio.

It is not necessary that partners should contribute ____ in profit sharing ratio.

A ____ partner is not personally liable to share the losses of the firm.

In the absence of a partnership agreement interest on ____ should not be paid to partners.

It is not necessary that partners should contribute ____ in profit sharing ratio.

Maximum number of partners in insurance business is ____ persons

A particular partner may not share ____ of firm at all.

In the ____ of a partnership deed, each partner have free access of all partnership record, Books and accounts.

Any salary paid or payable to a partner is treated as ____

If any commission is paid or payable to a partner shall be debited to ____

When the join life policy premium paid is treated as expense of the firm it is to be debited to ____

Variable expenses related to sales are to be divided in the ____ ratio.

Wages paid for installation of machinery must be debited to ____

Reserves appearing in the balance sheet belongs to the ____

If the incoming partner is bringing his share of goodwill in cash, the Journal entries will be ____

Net profit/loss before admission should be transferred to the ____ partner in their old profit sharing ratio.

The new firm formed after amalgamation is called as ____ firm

The existing firms getting merged together to form new entity are called as ____firm.

For calculating purchase consideration, it is necessary to get assets to be

If one of the firm continues in future with taking the other firm's business is called ____

Excess of Assets taken over liabilities is ____

Economies of large scale combined operations will ____ fixed cost per unit.

Excess of net assets over purchase consideration is transferred to ____

Purchase consideration less net assets= ____

For transferring RDD in the book of old firm ____ account is created.

____ is the amount payable by the purchasing firm to the vendor firm for taking over it's business.

On amalgamation, assets and liabilities of vendor firm transferred to ____ account at book value.

The new firm formed after amalgamation is called as ____

____ Ac is opened to find profit/loss on closing of the old firm.

The firm which decided to merge together to form ____ entity are called as amalgamating firms.

Provision for depreciation on fixed assets appearing in the Balance sheet of vendor firm is created to ____ ac

On amalgamation of firms unrecorded assets taken over by partners is debited ____ to ac.

On amalgamation of firm, accumulated losses of old firm are transferred to____

On amalgamation of firm unrecorded liabilities taken over by partner is created to____

Debit balance in realisation ac indicates ____

On amalgamation, expenses on dissolution of vendor firm paid by partner is to be credited to ____

Goodwill of amalgamated firm written off____