Another name of partnership deed.
Partnership agreement
Partnership capital
Partnership loan
Liability
A capital account has:
Debit balance
Nominal balance
Personal balance
Credit balance
Loans from partners is:
Part of capital
Not a part of capital
Part of asset
Part of drawings
Two sole traders agree to amalgamate their business without registering their amalgamation. This is:
Company
HUF
Partnership
Sole trader
Is it mandatory to register a partnership firm?
Yes, it's mandatory
No, it isn't
No comments
Either can register
A business owned by only one person is:
Limited liability partnership
Name of the account which shows the net profit/loss shared between partners.
Profit & loss account
Profit & loss appropriation account
Balance sheet
Final accounts
In the case of banking business, maximum number of people are:
10
20
30
25
Which act defines partnership?
Indian contract act
Agreement
Indian partnership act
Sale of goods act
A partner may make a loan to the business. This is treated as:
Partner's personal loan
Similar to all other loans
Different from other loans
Both B & C
