From the following information, identify when goodwill is required to be calculated.

(a) Admission of a Partner

(b) Amalgamation of partnership firms

(c) Dissolution of partnership firm

(d) Retirement and Death of any partner

(e) Preparation of Balance sheet

Choose the correct answer from the options given below :

Anuj and Varun are partners sharing profits equally, with capitals of Rs. 1,00,000 and Rs. 80,000 respectively. Interest on capital is agreed @ 6% p.a. Varun is to be allowed an annual salary of Rs. 10,000. Manager is to be allowed commission Rs. 5,000. Anuj has also given a Loan on April 01, 2024 of Rs. 50,000 to the firm without any agreement. During the year 2024-25, the profit earned was Rs. 42,500. State their share of profit after necessary appropriations.

Suppose Gunjan and Himani are partners in a firm sharing profits and losses equally. During 2024-25, Gunjan withdrew Rs. 30,000 quarterly in the begining of each quarter. If interest is to be charged on drawings @ 8% p.a., the interest on drawings will be:

For distribution of profits among the partners, the following account is debited to the partners:

__________ is/are not true with regard to Limited liability partnership.

(A) Separate Legal entity

(B) Unlimited liability for one partner

(C) Indian Partnership Act, 1932 is applicable

(D) Perpetual Succession

(E) Unlimited liability of partners

Choose the correct answer from the options given below :

Which of the following is NOT a feature of partnership?

Which statement is not true about Capital Accounts of Partner-