A partnership can have maximum 50 partners. This limit has been set by the: Option 1: Indian Partnership Act, 1932 Option 2: State Government Option 3: Indian Contract Act, 1872 Option 4: Central Government

The answer is 'Central Government'. View full solution:

CUET Accountancy - A partnership can have maximum 50 partners. This limit has been set by the: | PYQs + Solutions

CUET Accountancy

Partnership

Hard

Indian Partnership Act, 1932

State Government

Indian Contract Act, 1872

Central Government

✅ Correct Option: 4

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20 June Shift 2

Select the conditions required for computing interest on drawings using average period method:

A. Equal amount of drawings

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C. Varying amounts of drawings

D. Different interval of drawings

E. Rate of Interest

Choose the correct answer from the options given below:

31 May Shift 1

Match List-I with List-II

List-I	List-II
Interest on Drawings	Time (Month)
(A) When the amount is withdrawn at the beginning of each month.	(I) 6 months
(B) When the amount is withdrawn at the end of each month.	(II) 6.5 months.
(C) When the amount is withdrawn at the middle of each month.	(III) 5.5 months.
(D) When the amount is withdrawn at the end of each quarter.	(IV) 4.5 months.

Choose the correct answer from the options given below:

13 May Shift 1

Calculate Interest on drawings for the amount Rs. 12000 on June 1, 2019.