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Q. Partnership is formed by the partners by:

Q. When bonus share are received the average cost of the existing shares are ______

Q. Which of the following provide frame work and accounting policies so that the financial statements of different enterprises become comparable.

Q. Revaluation account is operated to find out gain or loss at the time of:

Q. After the issue of forfeited shares, balance of forfeited shares account Is transferred to

Q. Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be

Q. Any partner who investments in the business but does not take active part in the business is:

Q. If a partner takes over an asset of the firm, his capital account:

Q. In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:

Q. Outstanding salary account is a