Question

Q.1 Objective Questions:
Select the most appropriate alternatives from the following & rewrite the sentences:
When there is no partnership agreement between partners, the division of Profits
place in
ratio.
a) Equal
b) capital ratio
c) initial contribution d) experience and tenrue of partners.
2) To find out Net Profit or Net Loss of the business
account is prepared
a) Trading
b)
Capital
c) Current
d) Profit & Loss
3)
is an Intangible Asset.
a) Goodwill
b) Stock
c) Cash
d) Furniture
4) In the absence of an agreement, interest on loan advanced by the partner to the
allowed at the rate of
b) 6%
d) 9%
Liability of partners in a partnership business is
a) 5%
c) 10%​

Answer 1

1. equal ratio 2. trading account 3.goodwill 4.6/