Identify the right combination of type of Account in making Final Accounts of Partnership Firm.

(a) Profit and Loss A/C

(b) Profit and Loss Suspence A/C

(c) Profit and Loss Appropriation A/C

(d) Profit and Loss Adjustment A/C

(e) Partners' Capital A/Cs

Choose the correct answer from the options given below :

The content of Partnership deed includes:

A. Name and address of all partners

B. Method of settlement of disputes among partners

C. Deed once made cannot be altered

D. Rules regarding operation of Bank account

E. Verbal agreement between partners is considered as deed

Choose the correct answer from the options given below:

A, B and C are partners sharing profits in the ratio of 3:3:4. They decide to share the future profits equally. The sacrifice or gain of partners are:

If partnership deed is silent on the profit sharing ratio and other provisions: interest @_____ per annum is allowed on loans advanced by partners:

Which of the following account / statement is prepared to distribute the profit or loss among partners

In case there is no partnership deed between the partners, then at what rate interest on capital will be provided?

Partnership deed should be properly drafted and prepared as per the provisions of: