TEST YOUR UNDERSTANDING -I Chapter 5 Dissolution of Partnership Firm TEST YOUR UNDERSTANDING -I Question 1. Dissolution of a partnership is different from dissolution of a firm. Answer True In dissolution of partnership, business continues whereas in dissolution of...
Chapter 4 Reconstitution of a Partnership Firm – Retirement/Death of a Partner DO IT YOURSELF Question 1. Anita, Jaya and Nisha are partners sharing profits and losses in the ratio of 1:1:1 Jaya retires from the firm. Anita and Nisha decided to share the profit in...
Chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner NUMERICAL PROBLEMS 10.Singh, Gupta and Khan are partners in a firm sharing profits in 3:2:3 ratio. They admitted Jain as a new partner. Singh surrendered 1/3 of his share in favour of Jain: Gupta...
Chapter 2 Accounting for Partnership : Basic Concepts TEST YOUR UNDERSTANDING – I 1. Mohan and Shyam are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters: (i) Mohan is an active partner. He wants a...
