Question

Answer in one word / sentence :
(i) Who can participate in the management of a firm's business ?
(ii) What is normal profit ?
(iii) Where is the revaluation account's balance transferred ?
(iv) What is the share of a public company issued for more than their
face value called ?
(v) For whom financial statements prove to be a guide ?​

Answer 1

Answer:

1.Ostensible partner is participated in the management of a firm's bussiness.

2.Normal profit is a profit metric that takes consideration into both explicit and implicit costs.

3.Revaluation account's balance is transferred to capital account in ratio.

4.The share of a public company issued for more than their face value called premium price.