CUET Preparation Today
Match the following items.
|
i) – C, ii) – D, iii) – B, iv) – A i) – A, ii) – B, iii) – C, iv) – D i) – D, ii) – A, iii) – B, iv) – C i) – B, ii) – D, iii) – A, iv) – C |
i) – B, ii) – D, iii) – A, iv) – C |
* Partnership Deed- Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. * Balance sheet- A balance sheet is a financial statement that reports a company's assets, liabilities, and shareholder equity. * Interest On drawings- No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed. * Interest on partner's loan- If the Partnership Deed does not specify the rate of interest payable on loan by a partner, the rate at which interest on loan will be paid is 6 percent on any loan advanced by the partner to the firm. Interest on loan will be paid to the partners even if the firm incurs a loss. |
