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12th Standard English Medium Accountancy Subject Accounts of Partnership Firms-Fundamentals Book Back 1 Mark Questions with Solution Part - II updated Book back Questions

Published on: 13/05/2022

QB365 provides detailed and simple solution for every Book back Questions in class 12 Accountancy Subject. It will helps to get more idea about question pattern in every book back questions with solution.

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Std: 12th Standard - Accountancy

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Questions:

Multiple Choice Question

5 x 1 = 5

Profit after interest on drawings, interest on capital and remuneration is Rs. 10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

(a)

Rs. 50

(b)

Rs. 150

(c)

Rs. 550

(d)

Rs. 500

In the absence of an agreement, partners are entitled to

(a)

Salary

(b)

Commission

(c)

Interest on loan

(d)

Interest on capital

When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

(a)

5.5 months

(b)

6 months

(c)

12 months

(d)

6.5 months

Which of the following is shown in Profit and loss appropriation account?

(a)

Office expenses

(b)