5 Questions
In which year was the Partnership Act passed?
1932 AD
Making a partnership agreement is considered to be:
Voluntary
Which one of the following is not a feature of partnership according to the text?
Limited liability
Under the fixed capital method, where should the interest on Capital account of partners be credited?
Partner’s capital account
When the capital is fixed, which account is opened according to the text?
Only Capital Account
Prepare for the first terminal examination (2021-2022) with this model question paper set-03 for the subject of Accountancy. The paper consists of 40 questions to be answered in 1 hour and 30 minutes.
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