At the time of change in profit sharing ratio, what will be the impact of reduction in the value of investment by 20% assuming existing book value of investments in balance sheet as Rs. 2,40,000 and there is an investment fluctuation reserve existing in balance sheet at Rs. 30,000?

Amitabh and Babul are partners sharing profits in the ratio of 3:2, with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. Amitabh has also given a Loan on April 01, 2024 of Rs. 50,000 to the firm without any agreement.

Calculate Interest on Amitabh's Loan assuming books are closing on 31st March, 2025.

The Partnership deed should be properly drafted and prepared as per the provisions of _____.

Out of the following, which one is not a mode of reconstitution of a partnership firm?

Which of the following is not a feature of a partnership firm?

There is a need for valuation of goodwill under which of the following cases

(A) Admission of new partner

(B) Retirement of a partner

(C) Dissolution of a firm involving sale of business as a going concern.

(D) Amalgamation of partnership firms.

Choose the correct answer from the options given below:

Profit and Loss Appropriation Account has the following features:

(A) It is merely an extension of the Profit and Loss Account of the firm.

(B) It shows how the profits are appropriated or distributed among the partners.

(C) It starts always with the net profit as per Profit and Loss Account.

(D) All adjustments in respect of partner's salary, partner's commission, interest on capital, interest on drawings, etc. are made through this account.

Choose the correct answer from the options given below: