Question

Prepare a profile of anyone msme operating locally in your area. Prepare a questionnaire to find out
(a) The growth prospects of the unit.
(b) use of local resources and indigenous skills used.
(c) The actual problem faced by an owner of MSME.
(d) Marketing of product and services
Prepare a project report on it.

Answer 1

Answer:

X, Y and Z were sharing profits/losses in the ratio of 4:3:1. Y died ina car accident on 12 June 2021. As per the agreement, on death of a partner, his share of profit is to be calculated on the basis of average profit of last 4 years irrespective of profit or loss in the current year. Source: Ultimate Book of Accountancy X and Z decided to share future profits in the ratio of 3:2. Profits/loss for the last 4 years were as follows: