[CUET] Mock Test of Fundamentals of Partnership (Profit & Loss Appriopriation A/c) (Part – 2)

[CUET] Mock Test of Fundamentals of Partnership (Profit & Loss Appriopriation A/c) (Part – 2)

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Mock Test of Fundamentals of Partnership (Profit and Loss Appropriations A/c) (Part - 2)

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Transfer to General Reserve is shown on which side of the Profit and Loss Appropriation Account?

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What is the opening item on the credit side of the Profit and Loss Appropriation Account?

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Transfer to General Reserve is shown on which side of the Profit and Loss Appropriation Account?

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When there is a net loss in the Profit and Loss Account, the Profit and Loss Appropriation Account will show:

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The Profit and Loss Appropriation Account is prepared by:

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The Profit and Loss Appropriation Account is prepared to show:

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What is the nature of the Profit and Loss Appropriation Account?

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Partner’s salary and commission are:

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Interest on capital is shown on which side of the Profit and Loss Appropriation Account?

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Interest on drawings is shown on which side of the Profit and Loss Appropriation Account?

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If the partnership deed is silent about the distribution of profits, they are shared:

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