CUET Accountancy - Which of the following is NOT a feature of partnership? | PYQs + Solutions

CUET Accountancy 2025 24 May Shift 1

Partnership

Easy

common

Two or more persons

Disagreement

Mutual agency

Sharing of profit

✅ Correct Option: 2

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The steps followed for calculating interest on drawing in the product method are.

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(D) Calculate product for each drawing by multiplying amount and number of month.

Choose the correct answer from the options given below:

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Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry

CUET Accountancy 2025 24 May Shift 1 PYQs

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