thership Accounts - Fundame
16
11. Seeta and Geeta are partners sharing profits and losses in the ratio 4:1.
Meeta was manager who received the salary of 7 4,000 p.m. in addition
to a commission of 5% on net profits after charging such commission
Profits for the year is 36,78,000 before charging salary. Find the total
remuneration of Meeta.
(a) 78,000
(b) 88,000
(C) 87,000
(d) * 76,000.
Answer:
17.
Answers
Select the Best Alternate and tally your answer with the Answers given at the end of the book:
(i) Features or Characteristics of Partnership
1. Features of a partnership firm are :
(A) Two or more persons are carrying common business under an agreement.
(B) They are sharing profits and losses in the fixed ratio.
(C) Business is carried by all or any of them acting tor all as an agent.
(D) All of the above.
Answer
2. Following are essential elements of a partnership firm except: (CPT; June 2012)
(A) At least two persons
(B) There is an agreement between all partners
(C) Equal share of profits and losses
(D) Partnership agreement is for some business.
Answer
3. In case of partnership the act of any partner is : (C.S. Foundation Dec. 2012)
(A) Binding on all partners
(B) Binding on that partner only
(C) Binding on all partners except that particular partner
(D) None of the above