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.
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.
What are the key qualities or characteristics which accounting information should possess?
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?
How have you observed the regulations which affect both your industry and your accounting place?
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
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:
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
What do you mean by the term Comparability which is accounting information?
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
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
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