___________ intervals refers to withdrawal made monthly, quarterly, half-yearly, once in 2 months and once in 4 months.

(a)

Fixed time

(b)

Current time

(c)

Average time

(d)

None of these

______________ is a type of partnership in which the liability of the partners is limited to the entent of their capital contribution.

(a)

Limited liability partnership

(b)

Limited assets

(c)

Partnership deed

(d)

None of these

Under ____________ capital arrangement, current accounts will not be maintained.

(a)

Fixed

(b)

Fluctuating

(c)

Both 'a' and 'b'

(d)

None of these

The debit balance of the current account, will be shown in the ____________ side of the balance sheet.

(a)

liabilities

(b)

assets

(c)

debit

(d)

credits

Interest on partner's capital is allowed, only when the _______________ specifically provides for i

(a)

partnership Act

(b)

partnership agreement

(c)

both 'a' and 'b'

(d)

none of these

Indian partnership Act was enacted in the year ___________

(a)

1932

(b)

1956

(c)

1991

(d)

1992