12th Accountancy 2017 Set1 Delhi Board Paper Solution
Does partnership firm has a separate legal entity ? Give reason in support of your answer.
No, a partnership firm doesn't have a separate legal entity as partners' private assets can be utilized to set off the liability of firm as per law.
Popular Questions of Class 12th accountancy
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What is Capital Fund? How is it calculated?
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What is subscription? How is it calculated?
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What is sacrificing ratio? Why is it calculated?
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Why is Profit and Loss Adjustment Account prepared? Explain.
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List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating.
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Why there is need for the revaluation of assets and liabilities on the admission of a partner?
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Identify various matters that need adjustments at the time of admission of a new partner.
- Q:-
State the meaning of ‘Not- for- Profit’ Organisations.
- Q:-
On what occasions sacrificing ratio is used?
Recently Viewed Questions of Class 12th accountancy
- Q:-
What is Capital Fund? How is it calculated?
- Q:-
State the meaning of Receipt and Payment Account.
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Why it is considered desirable to make the partnership agreement in writing.
- Q:-
What is sacrificing ratio? Why is it calculated?
- Q:-
What is subscription? How is it calculated?
- Q:-
Why there is need for the revaluation of assets and liabilities on the admission of a partner?
- Q:-
Why is Profit and Loss Adjustment Account prepared? Explain.
- Q:-
State the meaning of ‘Not- for- Profit’ Organisations.
- Q:-
If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
- Q:-
On what occasions sacrificing ratio is used?