How does the factor " efficiency of management" affect the goodwill of the firm ?

How does the factor 'location' after the goodwill of a firm ?

What is normal profit ?

Why is "Goodwill" considered an 'intangible Asset' but not 'Fictitious Asset'?

Define goodwill.

What is meant by goodwill ?

The partnership deed is silent on payment of salary to partners.  Amita, a partner, claimed that since she managed the business, she should get a monthly salary of Rs 10,000.  Is she entitled for salary? Give reason.

State two elements of the partnership deed.

Why is it that the capital account of a partner does not show a 'Debit Balance' in spite of regular and consistent losses year after year?

What is meant by partnership deed ?

List two items that may appear on the credit side of a partner's fixed capital account.

State one difference between fixed capital account and fluctuating capital account of partners.

A, B and C are partners decided that no interest on drawings is to be charged to any partner.  But after one year 'C' wants that interest on drawings should be charged to every partner.  State how 'C' can do this.

A Partnership deed provides for the payment of interest on capital but there was a loss instead of profits during the year 2010-2011.  At what rate will the interest on capital be allowed ?

State the provisions of Indian Partnership Act, 1932 regarding the payment of remuneration to a partner for the services rendered.

Chander and Suman are partners in a firm without a partnership deed.  Chander's Capital is Rs. 10,000 and Suman's capital is Rs. 14,000.  Chander has advanced a loan of Rs. 5,000 and claims interest @ 12% p.a. on it.  State with reasons whether his claim is valid or not.

Ram and Mohan are partners in a firm without any partnership deed.  Their capitals are Ram Rs. 8,00,000 and Mohan  Rs. 6,00,000.  Ram is an active partner and looks after the business.  Ram wants that profit should be shared in proportion of capitals.  State with reason whether his claim is valid or not.

The capital of a non-profit organization is generally known as

Honorarium is a kind of remuneration paid to a person who is not the employee of a non-profit organization. Which of the following statements is true about the honorarium payment?

Which of the following is to be recorded in an income and expenditure account?

Income and expenditure account is based on

An advance receipt of subscription from a member of the non-profit organization is considered as a/an

Rent expense of a non-profit organization paid in advance. Which of the following is the correct classification of rent?

Expenditures greater than incomes of a non-profit organization give rise to a

Non-profit organizations prepare all of the following accounts except the

The receipts and payments account of a non-profit organization is a

Which of the following is generally considered as a non profit oriented organization?

Which is not a method to calculate the goodwill?

Who should compensate to whom in case of change in profit sharing ratio of existing partners?

Goodwill is a/an :

According to AS 26, which goodwill is recorded in the books:

Revaluation A/c is prepared to find out the profit or loss on:

Profit or loss on revaluation is shared among the partners in:

Interest on partner’s capital is :

Capital employed by a partnership firm is Rs10,00,000.Its average profit is Rs 1,20,000. The normal rate of return in similar type of business is 10%. What is the amount of super profits?

A partnership deed is silent for the payment of interest on partners’s loan but there was a loss instead of profits during the year 2013-14. At what rate will the interest on partner’s loan be allowed?

Loss is distributed among the partners: