A, B and C are partners. They agreed to change their existing profit sharing ratio from 3:2:1 to 1:1:1. An unrecorded asset of Rs. 50,000 was identified. For this unrecorded asset:

John, Janardan and Javed are partners in a firm. Their existing profit sharing ratio is 5 : 3 : 2. From 1st April 2025, they decide to share the future profits in the ratio 3 : 2 : 1. Workmen compensation reserve is appearing in the balance sheet on this date, if no information is available for the same, then it will be :

Which combination of statements are false about partnership-

(A) Interest on partner's loan is to be given @ 12% p.a. If the deed is silent about the rate.

(B) If the deed is silent, interest at the rate of 6% p.a. would be charged on the drawings made by the partner.

(C) Methods of settlement of dispute among the partners can't be part of the partnership deed.

(D) Each partner carrying on the business is the principal as well as the agent for all the other partners

Choose the correct answer from the options given below:

1. (A), (B) and (D) only
2. (A), (B) and (C) only
3. (A), (B), (C) and (D)
4. (B), (C) and (D) only

Capital employed in a business is Rs. 1,00,000. The normal rate of return on this type of business carried out is 10%. The firm has earned profits of Rs. 30,000; Rs. 36,000 and Rs. 42,000 in the last three years. Using capitalisation of super profits method, calculate the value of the goodwill of the firm.

By virtue of section ___________, the Central Government is empowered to prescribe a maximum number of partners in a firm.

If the partnership deed is silent regarding Interest on the partner's loan, the following provision of the Indian Partnership Act 1932 will be applicable:

Aman, Billu and Sonu were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Sonu was guaranteed that her share of profit will not be less than Rs. 25,000. The firm's profit for the year ending on 31st March, 2025 was Rs. 1,00,000. The amount of deficiency to be borne by Aman was: