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Q. In the absence of an agreement profit and loss are divided by partners in the ratio of:

Q. The agreement among partners which set out the terms on which they had agreed to form a partnership is called:

Q. Amount due to outgoing partner is shown in the balance sheet as his:

Q. In final account system, Branch Trading and Profit & Loss A/c is prepared at ________

Q. For any decrease in the value of liability, revolution A/c is to be:

Q. Interest on capital Account:

Q. Debit the receiver & credit the giver is _____ account

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

Q. Drawings of the partners are:

Q. Bonus shares are issued by ________ free reserves