If the amount due to the outgoing partner is transferred to loan account then he is entitled to interest at _________ until it is paid out.

Trial balance shows machinery of Rs. 2,00,000. Depreciation is provided at 10%. The depreciation on machinery will be____________

Statement of assets & liabilities prepared under double entry system is called ___________

If debtors balance was Rs. 2.000 at 1^st Jan.2017, credit sales made during the year were Rs.1,000 and Rs.1,500 were received from debtors, which of the following is the debtors account balance at 31^st Dec. 2017?

In which of the following system of recording the financial statements reflect true and fair view of an entity and accounting records are considered to be more accurate?

_____ is a voluntary association of persons.

Equity shares do not enjoy any ___________

________________ is the interest allowed on capital of the partners.

In India, partnership firms are governed by the Indian partnership Act ___________

_____ capital can be found by preparing a statement of affairs at the beginning of the year.

__________ method, goodwill is calculated as certain years of purchase of average profits of the past few years.

______is a fee collection from every member only once at the time of his or her admission into the organisation.

Income and Expenditure accounts show

At the time of retirement of a partner, determination of gaining ratio is required

If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

Current assets excluding inventory and prepaid expenses is called

Super profit is the difference between

In the absence of an agreement among the partners, interest on capital is

Which one of the following statements is not true in relation to incomplete records?