For the firm, interest on capital is -
(A) Capital Receipt
(B) Capital payment
(C) Income
(D) Loss
1 Answers
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pratibha partner of a firm has advanced loan to the firm of Rs, 1,00,000 the firm does not have a paranership Deed will pratibha get interest on the i
Yes, In the absence of Partnership Deed, a partner receive interest on loan @ 6% p.a.
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Import stage Receipt of Document, Bill of Entry, Delivery Order, Exporter Payment.
1. Exporter Payment 2. Household Articles 3. Cheap Jacks.
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From the following data, calcualte value added by firm X and by firm Y: (i) Closing stock of firm X 20 (ii) Closing stock of firm Y 15 (iii) Opening s
VA by X=v+i-iv-vi-ix =300+20-5-100-50 =rs 165 lakh V.A. by `Y=viii+ii-iii-vii` `=250+15-10-80` =rs 175lakh
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Calculate value-added by firms A and B from the following data: (i) Purchases by firm B from firm A 40 ) Sales by firm B 80 (iii) Imports by firm B 10
V.A. by `A=i+viii-ix-vii` `=40+20-10-20` =rs 30 lakh V.A. by `B=ii+vi-v-i-iii` =`80+20-15-40-10` =rs 35lakh
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From the following data, find out value added by firm X: (i) Sales by firm Y to firm X 400 (ii) Sales by firm X to households 500 (iii) Purchases by f
`GVA_(mp)` by X=(ii+iii)+(v-iv)-(i) `=(500+300)+(75-25)-400` =rs 450lakh.
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Specific donation is - (A) Capital Receipt (B) Revenue Receipt (C) Asset (D) None of these
Correct option is: (A) Capital Receipt
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Receipt and payment Account is a summary of - (A) All capital receipts and payments (B) All revenue receipts and payments
Correct option is: (C) All revenue and capital receipts and payments
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Payment of credit balance of partners capital Accounts at the time of dissolution of a firm is made to :-
Correct option is: (A) Partners
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Receipt and Payment Account of Maitrey Sports Club showed that Rs. 68,500 were received by way of subscriptions for the year ended on March 31, 2017.
Correct Answer - Subscription credited to Income and Expenditure Account for the year ended on March 31, 2017 is Rs. 69,000. Subscription Outstanding as on 31.3.2017 is Rs. 5,400 and...
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The total of the payment side can be greater than the total of the receipt side in the case of the bank column.
This statement is True. It is an overdraft on the current account.
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