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Q) In the absence of an express agreement as to who will contribute to new partners’ share of profi t, it is implied that the old partners will contribute :

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More questions from 12th Class Accountancy - Part 1: Not-for-Profit Organisation and Partnership Accounts

Q. On dissolution, losses are first of all met:

Q. If the Partner’s Capital Accounts are fluctuating, in that case following item/items will be recorded in the credit side of capital accounts :

Q. Shares issued by a company to its employees or directors in consideration of ‘Intellectual Property Rights’ are called :

Q. An example of Cash Flow from Operating Activity is :

Q. X and Y are partners in a firm sharing profits in the ratio of 5 : 3. They admitted Z as a new partner. The new profit sharing ratio will be 4 : 3 : 2. The firm’s goodwill on Z’s admission was valued at ₹1,26,000. But Z could not bring any amount of goodwill in Cash. Credit will be given to :

Q. A and B are partners sharing profits in the ratio of 3 : 2. They admit C into the partnership with 14th share in future profits. The new profit sharing ratio is 5 : 4 : 3. The firm’s goodwill on C’s admission was valued at ₹1,44,000. But C could not bring any amount for goodwill in Cash. Credit will be given to :

Q. Which of the following is an example of cash flow from Operating Activities?

Q. Inventory Turnover Ratio is:

Q. P, Q and R share profits in the ratio of 5 : 3 : 2. S is entitled for 15th share in profits which he acquires equally from P, Q and R. Goodwill of the firm is to be valued at three year’s purchase of last four year’s profits which are ₹50,000; ₹60,000; (-) ₹30,000 and ₹40,000. S cannot bring his share of goodwill in cash. Credit will be given to

Q. Cash from operating activities consists of:

Subjects (12th Class)

Accountancy - Part 1: Not-for-Profit Organisation and Partnership Accounts

Biology

Business Studies

Chemistry

Economics - Indian Economic Development

Economics - Macroeconomics (Introductory Macroeconomics)

English - Flamingo Poems

English - Flamingo Prose

English - Vistas

Geography

Geography - India People and Economy

History

Physics

Political Science - Contemporary World Politics

Political Science - Politics in India Since Independence

Chapters (Accountancy - Part 1: Not-for-Profit Organisation and Partnership Accounts)

Accounting for Partnership Firms — Fundamentals

Change in Profit Sharing Ratio among the Existing Partners

Admission of a Partner

Retirement or Death of a Partner

Dissolution of a Partnership Firm

Financial Statements of Not-for-Profit Organisations (N.P.O.)

Issue of Shares

Issue of Debentures

Redemption of Debentures

Financial Statements of Companies

Financial Statements Analysis

Comparative Statements

Common Size Statements

Accounting Ratios

Cash Flow Statement