Question
What is the minimum number of partners required to form
a partnership under the Partnership Act?Solution
Explanation: According to Section 4 of the Partnership Act, a partnership is an association of two or more persons who have agreed to carry on a business together for profit. Therefore, the minimum number of partners required to form a partnership is two.
With respect to receipt and payments account, which of the following statement is incorrect?
The form of Annual Financial Statement and Demand for Grants shall be laid down to Parliament by whom?
For which of the following, Specific Act is applicable for preparation and presentation of financial statement?
Interest payable u/s 234C is computed at
Which of the following categories of inventory are typically reported by a company in its financial statements?
_______ Ratio is the indicator of firm’s financial leverage.
The effective interest method is used to:
Which inventory method is banned as per Ind AS?
A company’s debt-to-equity ratio is 3:1, and it faces a high interest burden. What does this suggest about the financial structure?
What is the limit amount for deduction in respect of Medical/Health Insurance Premium under Section 80D of the Income Tax Act, 1961?
