The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________
-
Solution
Number of units expected to be produced from the use of asset is called as useful life.
The accommodation bill is drawn_______
-
Solution
Accommodation bill is dream when both parties are in need of funds.
The parties to joint venture is called_________
-
Solution
Parties to joint venture are co-venturers.
The owner of the consignment inventory is________
-
Solution
Consigner is the owner of the consignment inventory.
Interest on capital will be paid to the partners if provided for in the agreement but only from________
-
Solution
Interest on capital will be paid only from profit of the year in the given case.
Profit or loss on revaluation is shared among the partners in _______ ratio.
-
Solution
Profit/Loss on revaluation is shared among partners in old profit sharing ratio.
At the time of death of a partner, firm gets ________ from the insurance company against the Joint Life Policy taken jointly for all the partners
-
Solution
Partners will get policy amount in the given case.
Dividends are usually paid as a percentage of ______
-
Solution
Dividends are usually paid as percentage of paid up capital.
Loss on issue of debentures is treated as ____________
-
Solution
Loss on issue of debentures is treated as other current/non-current assets.
Discount on issue of debentures is a __________
-
Solution
Discount on issue of debenture is capital loss to be written off over tenure of debentures.