Class 12th Accountancy 2017 Set3 Delhi Board Paper Solution
State any two advantages of preparing cash flow statement?
Advantages of Cash Flow Statements are:
(i) It facilitate in short term financial planning by providing information about sources and application of cash and cash equivalents for a specific period of time.
(ii) It helps in efficient Cash Management as it gives information relating to surplus and deficit of cash.
(iii) It helps in comparative study by giving data for comparison of actual cash flows with budgeted cash flows.
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What is Capital Fund? How is it calculated?
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What is sacrificing ratio? Why is it calculated?
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Why there is need for the revaluation of assets and liabilities on the admission of a partner?
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What is subscription? How is it calculated?
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List the items which may be debited or credited in capital accounts of the partners when:
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Why is Profit and Loss Adjustment Account prepared? Explain.
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If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?
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Why it is considered desirable to make the partnership agreement in writing.
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On what occasions sacrificing ratio is used?
Recently Viewed Questions of Class 12th accountancy
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State the accounting treatment at the time of dissolution of a firm for:
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State the difference between dissolution of partnership and dissolution of partnership firm.
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State the meaning of ‘Not- for- Profit’ Organisations.
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State the order of settlement of accounts on dissolution.
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State the meaning of Income and Expenditure Account.
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Give two circumstances under which the fixed capitals of partners may change.
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Define Partnership Deed.
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On dissolution, how will you deal with partner’s loan if it appears on the
(a) assets side of the balance sheet, (b) liabilities side of balance sheet. - Q:-
Why is Profit and Loss Adjustment Account prepared? Explain.