CUET Preparation Today
Match the following items.
Choose the correct answer from the options given below. |
A-II, B-I, C-III, D-IV A-I, B-II, C-III, D-IV A-II, B-I, C-IV, D-III A-I, B-II, C-IV, D-III |
A-II, B-I, C-III, D-IV |
The correct answer is option 1- A-II, B-I, C-III, D-IV.
* Interest on Partner's capital- Four items appearing on the Profit and Loss Appropriation account. Interest on Drawings on the credit side, Interest on Partner's Capital on the debit side, Partner's salary on the debit side, Partner's commission on the debit side. * Interest on Partner's Drawings- Four items appearing on the Profit and Loss Appropriation account. Interest on Drawings on the credit side, Interest on Partner's Capital on the debit side, Partner's salary on the debit side, Partner's commission on the debit side. * Interest on partner's loan- Interest on loan is the amount of interest that is paid by the firm on the amount of loan taken from a partner. It is shown on the debit side of the Profit and Loss Account. * Commission received by firm- Commission received is the amount that is received by the firm. It is shown on the credit side of the Profit and Loss Account. |
