Accounting - Study Mode
[#1036] In the absence of any contract, profit arising from partnership firm is credited to the partners capital account in:
Correct Answer
(A) Equal proportion
[#1037] Realisation account is prepared by a Partnership firm at the time of
Correct Answer
(C) Dissolution of the firm
[#1038] Depreciation represents a decrease in:
Correct Answer
(D) Book value of fixed assets
[#1039] Receipt and Payment A/c is an abbreviate form of:
Correct Answer
(A) Cash book
[#1040] If profit is 50% of sales, then what is its percentage on cost?
Correct Answer
(A) 100%