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Interest on Capital Exceeds Profits

Which of the ...

Question

Which of the following are the rights of a partner in a partnership firm?
X. To take part in the conduct and management of the business.
Y. To receive remuneration for active working in the firm
Z. To receive interest on the capital invested in the firm
W. To receive share in the profit
Correct option is _________.

A

X and Y

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B

X and Z

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C

X and W

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D

X, Z and W.

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Solution

The correct option is C X and W
Option C is the correct answer.

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Q. Which of the following are the rights of a partner in a partnership firm?
X. To take part in the conduct and management of the business.
Y. To receive remuneration for active working in the firm.
Z. To receive interest on the capital invested in the firm W. To receive share in the profit.
Which of the following is/are the correct options?

Q. When business of a partnership firm is sold to a company, shares and/or debentures received are distributed in:

Q. In a business, B is a sleeping partner and A is a working partner. A invests Rs 5000 and B invests 6000. A receives

12 \frac{1}{2} %

of the profit for managing the business and the remaining amount is divided in proportion to their capitals. A's share of the profit for a profit of Rs 880 is?

Q. Which partner has a right to take part in the conduct and management of the business?

M

N

are partners in a firm out of which

M

is sleeping partner and

N

is working partner.

M

1, 80, 000

N

90, 000

N

14.5 %

of profit for managing the business and the rest is shared between both in ratio of their investments.

M^{'}

s share in the profit of Rs.

24000

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