wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

On the death of his father, Imran joined his father’s partnership firm, he was a minor partner. On becoming major, he closely observed the following practices in the firm.
(i) Overbilling the invoice.
(ii) Sales tax evasion.
(iii) Showing higher amount of wages in book of accounts but actually paying low amount.
(iv) Undervaluation of the stock than actually available.

Identify the values affected here.

Open in App
Solution

There are different values that are affected. The values affected here are as follow:


* Breach of trust
* Unethical practices of partners
* Exploitation of workers
* Dishonesty, disrespect for the law
* Tax - evasion


flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Market Interventions and Policy Failures
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon