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

The partnership cannot be formed to share ____only

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

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

The new firm formed after amalgamation is called as ____ firm

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

The persons who have agreed to carry on the partnership ____

The partnership cannot be formed to do ____ business

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

In absence of agreement, partners share profit on loss in____

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

Partners can contribute capital either in cash/bank or ____

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

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

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

Excess of Assets taken over liabilities is ____

In the partnership business the partners are collectively called ____

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

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

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

Maximum number of partners in insurance business is ____ persons

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

Excess of net assets over purchase consideration is transferred to ____

Purchase consideration less net assets= ____

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

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

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

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

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

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

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

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

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

The new firm formed after amalgamation is called as ____

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

The partnership agreement can be ____or written

Partnership is a legal relationship between persons according the

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

Goodwill of amalgamated firm written off____

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.

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

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

Wages paid for installation of machinery must be debited to ____

____ number of partners allowed in case of Retail business.

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

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

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

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

Reserves appearing in the balance sheet belongs to the ____

Debit balance in realisation ac indicates ____

To admit a new partner with consent to ____ partners

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