FUNDAMENTALS OF PARTNERSHIP FIRMS

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Across
  1. 3. in the absence of partnership deed, profit and loss among partners will be shared.
  2. 5. in which side of profit and loss appropriation account is interst on drawing recorded.
  3. 8. written document which details the terms and conditions of partnership.
  4. 11. goodwill is a ____ asset.
  5. 12. number of partners in a partnership firm is
Down
  1. 1. interest on partners capital is adjusted by transferring it to _____ side of profit and loss appropriation account.
  2. 2. the method of valuation of goodwill in which super profit is capitalized at normal rate of return.
  3. 4. amount set aside out of profit to strengthen the financial position of firm or to meet an unforeseen liability.
  4. 6. Actual average profit- normal profit
  5. 7. profit that is available for distribution among partners after allowing remuneration.
  6. 9. liabilty of partner is.
  7. 10. partner's current accounts are opened when their capital Accounts are _______.