--%>
Assignment Help - homework help

Influence of lack of partnership deed

Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed.

Answer: In the lack of any provision in the Partnership deed, gain or losses are share by Partners uniformly.

   Related Questions in Managerial Accounting

  • Q : Characteristics which accounting

    What are the key qualities or characteristics which accounting information should possess?

    		•
  • Q : Fundamentals of Accounting Assignment

    Assignment 1: A adjusted Trial balance table given below: Southwest Business School

    Q : Industry and your accounting place How

    How have you observed the regulations which affect both your industry and your accounting place?

    		•
  • Q : Describe fluctuating capital of partners

    Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou

    		•
  • Q : Adjunct account An account in financial

      An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred

    		•
  • Q : Conditions in which fixed capital of

    Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:

    		•
  • Q : Explain Investor Accounting Investor

    Investor Accounting: It is an individual who commits money to investment products with the hope of financial return. Usually, the primary concern of an investor is to diminish risk whereas maximizing return, as opposed to a speculator, who is willing

    		•
  • Q : Comparability-Accounting information

    What do you mean by the term Comparability which is accounting information?

    		•
  • Q : Explain Full-Absorption Costing

    Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d

    		•
  • Q : Federal budget Choose the right answer

    Choose the right answer from following. Which one did not contribute to the large Federal budget deficits in the year of 2002 and 2003? A) spending on the wars in Afghanistan and Iraq. B) low interest rates. C) Federal tax cuts. D) the recession of 2001 and its afterm

    		•