Accounts

Profit and Loss Appropriation A/c MCQ Test 2

MCQ Profit and Loss Appropriation A/c – Partnership accounts This quiz on the Profit and loss appropriation A/c with 15 practice questions. Test your knowledge about the concepts of profit and loss appropriation A/c with this MCQ practice test. This quiz contains questions 1-15 covering what is profit and loss appropriation account, what are the […]

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Profit and Loss Appropriation A/c MCQ Test 1

MCQ Profit and Loss Appropriation A/c – Partnership accounts This quiz on the Profit and loss appropriation A/c with 15 practice questions. Test your knowledge get the conceptual clarity on profit and loss appropriation A/c with this MCQ practice test. This quiz contains questions 1-15 covering what is profit and loss appropriation account, what are

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Charge against profits vs Appropriation of profits MCQ Test 2

MCQ Charge vs appropriation – Partnership accounts This quiz on the charge against profits vs appropriation of profits with 15 practice questions. Test your knowledge about the meaning of charge vs appropriation with this MCQ practice test. This quiz contains questions 1-15 covering what is charge in partnership accounts, how it is different from the

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Charge against profits vs Appropriation of profits MCQ Test 1

MCQ Charge vs appropriation – Partnership accounts This is first quiz on the charge against profits vs appropriation of profits with 15 practice questions. Test your knowledge about the meaning of charge vs appropriation with this MCQ practice test. This quiz contains questions 1-15 covering what is charge in partnership accounts, how it is different

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Meaning of Partnership MCQ Test 2

MCQ Meaning of Partnership This is second quiz on the meaning of partnership with 15 practice questions. Test your knowledge about the meaning of partnership with this MCQ practice test. This quiz contains questions 1-15 covering meaning and features of partnership, the rights of partners, Partnership deed and its importance and provisions in the absence

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Meaning of Partnership MCQ Test 1

MCQ Meaning of Partnership Test your knowledge about the meaning of partnership with this MCQ practice test. This quiz contains questions 1-15 covering meaning and features of partnership, the rights of partners, Partnership deed and its importance and provisions in the absence of partnership deed and liabilities of partners in case of unjust profits earned

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Liability of a Partner in partnership accounts

Liability of Partners – Partnership Law Explained Understanding when partners must surrender private profits to the firm and their liability in competing business activities. Partner Liability Flowchart Partner makes private profit without informing other partners Does NOT apply if partner informs and gets consent from all partners Two Possible Rules Apply: Rule 1: Competing Business

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