What is a gaming and educational app?
Answers
A gaming app is an app mainly utilised for entertainment, playing games and having fun. The main scope of gaming apps is to attract people and spend their time.
An educational app is an app utilised for educational and/or informational purposes. Its main utility is to provide information and help us with it's knowledge.
Answer:
hii i am fine with me Question 1.
Features of a partnership firm are:
(a) Two or more persons
(b) Sharing profit and losses in the agreed ratio
(c) Business carried on by all or any of them acting for all
(d) All of the above
Answer
Answer: (d) All of the above
Question 2.
What time would be taken into consideration if equal monthly amount is drawn as drawings at the beginning of each month ?
(a) 7 months
(b) 6 months
(c) 5 months
(d) 6.5 months
Answer
Answer: (d) 6.5 months
Question 3.
A draws ₹ 1,000 per month on the last day of every month. If the rate of interest is 5% p.a., then the total interest on drawings will be :
(a) ₹ 325
(b) ₹ 275
(c) ₹ 300
(d) ₹ 350
Answer
Answer: (b) ₹ 275
Question 4.
In the absence of an agreement, partners are entitled to:
(a) Salary
(b) Profit share in capital ratio
(c) Interest on loan and advances
(d) Commission
Answer
Answer: (c) Interest on loan and advances
Question 5.
Fluctuating capital account is credited with :
(a) Interest on capital
(b) Profit of the year
(c) Remuneration of partners
(d) All of these
Answer
Answer: (d) All of these
Question 6.
Interest on Partner’s capital is :
(a) An expenditure
(b) An appropriation
(c) A gain
(d) None of these
Answer
Answer: (b) An appropriation
Question 7.
Calculate interest on drawings @ 12% p.a. for Gambhir if he withdrew 7 2,000 once at the beginning of each month:
(a) 7 1,560
(b) 7 1,500
(c) 7 1,200
(d) 7 1,000
Answer
Answer: (a) 7 1,560
Question 8.
Interest on drawings of the Partners is a :
(a) Loss to business
(b) Profit to business
(c) Profit to partners
(d) Loss to Bank
Answer
Answer: (b) Profit to business
Question 9.
The relation of partners with the firm is that of:
(a) An owner
(b) An Agent
(c) An owner and an agent
(d) Manager
Answer
Answer: (c) An owner and an agent
Question 10.
Liability of Partners is :
(a) Limited
(b) Unlimited
(c) Determined by partnerships Account
(d) None of these
Answer
Answer: (b) Unlimited
Question 11.
Partners’ current accounts are opened when their capital is:
(a) Fixed
(b) Fluctuating
(c) Both (a) and (b)
(d) None of these
Answer
Answer: (a) Fixed
Question 12.
The interest on partner’s drawings is debited to:
(a) Partner’s Capital A/c
(b) Profit and Loss A/c
(c) Drawings A/c
(d) P. & L. App. A/c
Answer
Answer: (a) Partner’s Capital A/c
Question 13.
Interest on advance given to the firm is :
(a) Ah appropriation
(b) A gain
(c) A charge
(d) None of these
Answer
Answer: (c) A charge
Question 14.
Interest on loan is :
(a) Operating Expense
(b) Direct Expense
(c) Indirect Expense
(d) All of these
Answer
Answer: (c) Indirect Expense
Question 15.
Partner’s salary is debited to :
(a) Trading Account
(b) Profit and Loss Account
(c) Profit & Loss Appropriation Account
(d) None of these
Answer
Answer: (c) Profit & Loss Appropriation Account
Question 16.
Partnership may be :
(a) Limited
(b) Unlimited
(c) At will
(d) All of these
Answer
Answer: (d) All of these
Question 17.
Partnership Deed is also called :
(a) Prospectus
(b) Articles of Association
(c) Principles of Partnership
(d) Articles of Partnership
Answer
Answer: (d) Articles of Partnership
Question 18.
In which year did the Partnership Act passed ?
(a) Year 1932
(b) Year 1956
(c) Year 1947
(d) Year 1952
Answer
Answer: (a) Year 1932
Question 19.
Calculate interest on drawing @12% p.a. for Abhishek if he withdraw ₹ 2,000 once in month :
(a) ₹ 1,440
(b) ₹ 1,200
(c) ₹ 1,320
(d) ₹ 1,500
Answer
Answer: (a) ₹ 1,440
Question 20.
The interest on capital accounts of partners under fixed capital method is to be credited to:
(a) Partner’s Capital A/c
(b) Profit & Loss A/c
(c) Interest A/c
(d) Partner’s Current A/c
Answer
Answer: (d) Partner’s Current A/c
Question 21.
In the absence of partnership deed, the partner will be allowed interest on the amount advanced to the firm:
(a) @5%
(b) @6%
(c) @ 9%
(d) @8%
Answer
Answer: (b) @6%
Question 22.
Which one is not the feature of partnership?
(a) Agreement
(b) Sharing of Profit
(c) Limited Liability
(d) Two or more than two persons
Answer
Answer: (c) Limited Liability
Question 23.
In the absence of partnership deed, interest on capital will be given to the partners at:
(b) 6% p.a.
(d) None of these
(b) Real Account
(d) None of these
Answer
Answer: (d) None of these
Question 24.
The interest on partners’ Capital Accounts under fluctuating method is to be credited to:
(a) Profit & Loss A/c
(b) Interest A/c
(c) Partner’s Capital A/c
(d) None of these
Answer
Answer: (a) Profit & Loss A/c
Question 25.
The Interest on partners’ Capital Accounts under fluctuating method is to be credited to:
(a) Profit & Loss A/c
(b) Interest A/c
(c) Partner’s Capital A/c
(d) None of these
Answer
Answer: (c) Partner’s Capital A/c
Question 26.
The Current Account of the partners will always have:
(a) Debit eytngeet