Another name of partnership deed is:
Partnership agreement
Partnership capital
Partnership loan
Liability
Normally maximum number of people allowed in a business.
10
20
30
25
Is it mandatory to register a partnership firm?
Yes, it is mandatory
No, it isn't.
No comments
Either can register
Each partner has an account in nominal ledger. This account is known as:
Capital account
Personal account
Real account
Nominal account
Two sole traders agree to amalgamate their business without registering their amalgamation. This is:
Company
HUF
Partnership
Sole trader
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
A capital account has:
Debit balance
Nominal balance
Personal balance
Credit balance
In the case of banking business, maximum number of people are:
The amount of balance, after the interest on capital and partners' salaries are deducted is known as:
Profit
Net profit
Residual profit
Gross profit
Each member of partnership has an account other than capital. This is:
Current account
