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Q
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Wages, salary, royalty, import duty
Ans
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Postage, stationary, advertising, purchase
Ans
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Capital Bills, Receivable, reserve fund, bank overdraft
Ans
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Building, machinery, furniture bills, payable
Ans
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Discount received, dividend received, interest received, depreciation
Ans
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2 Complete the sentence
1
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Registration of partnership is not compulsory in India
3
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Liabilities of partners in partnership firm is unlimited
5
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The interest of capital of a partner is debited to profit and loss account
7
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Partnership deed is an Partnership Deed
9
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Commission payable to partner is liability to their firm
11
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If a partners current account shows credit balance it is shown to the liabilities side of balance
sheet
13
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Cash receipts which are recurring in a nature are called as revenue receipts
15
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Expenses which are paid before due date are called as a prepaid expenses
17
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Trading account is prepared on the basis of is direct expenses
19
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When a goods are distributed as a free samples it is treated as a advertisement of the
business
Q
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When partnership deed its silent partners share profits of the firm according to Capital ratio
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Disagree
2
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Disagree
3
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Disagree
4
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Agree
5
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Agree
6
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Agree
7
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Disagree
8
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Agree
9
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Disagree
10
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Agree
11
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Agree
12
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Disagree
13
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Disagree
14
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Disagree
15
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Agree
16
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Disagree