A person who receives a share of profits from one of the regular partner is called:

Related MCQs

• An incoming partner pays his share of goodwill in cash, and profit sharing ration of old partner is changed, Goodwill be distributed among old partners:
• If the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement:
• Goodwill of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.
• A person who declares by word of mouth as partner of the firm is called:
• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.
• An account operated to ascertain the loss or gain at the death of a partner is called:
• In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:
• Any partner who investments in the business but does not take active part in the business is:
• A partners has to pay interest on drawings what is the entry in the personal A/c of the partner?
• Salary paid to partner should be: