Across
- 3. Which goodwill is recorded in the book of accounts as per accounting standard 26?
- 6. Debit balance of Current Account is shown in ______ side of Balance Sheet.
- 8. the partners are collectively called ____.
- 10. in absence of partnership deed the profit sharing ratio is _____.
- 12. partnership deed is also known as ___.
- 14. the persons who have entered into partnership, are individually called ____.
- 17. What should be the minimum number of persons to form a Partnership?
- 19. When there is a change in the current partners’ association that results in ending the existing agreement and initiate a formation of a new agreement is known as ______ of partnership.
- 20. If date of drawings of the partner’s is not given in the question, interest is charged for how much time?
Down
- 1. in case of fixed capitals, all the usual adjustments such as interest on Capital, partner’s salary/commission, drawings (out of profits), interest on drawings and share in profits or losses etc. are recorded in ______ account.
- 2. ______ is a written agreement among the partners which contains the terms of agreement.
- 4. Liability of partner is _____.
- 5. Goodwill is defined as _____ asset.
- 7. Goodwill is classified into ______ and purchased.
- 9. Number of partners in a partnership firm may be ___.
- 11. commission to a partner is ____ of profit,
- 13. as a _____, a partner is bound by the act of other partners.
- 15. Interest on partner's loan will also be provided in the absence of Partnership Deed @ ____% per annum.
- 16. as an ____, a partner represents other partners and thereby, binds them through his acts.
- 18. capital account will always show _____ balance.