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Question: What is the primary purpose of preparing a final account for a partnership firm?Options: T..
Question: In inventory valuation, which method is NOT acceptable under accounting standards?Options:..
Question: What method of depreciation is commonly used in partnership firms for fixed assets?Options..
Question: How is goodwill treated when a partner retires from a partnership?Options: Goodwill is wri..
Question: Which of the following is NOT included in the trial balance of a partnership firm?Options:..
Question: What is the journal entry to record the admission of a new partner in a partnership firm?O..
Question: What is the effect of revaluation of assets on partners\' capital accounts?Options: Increa..
Question: In a partnership, how is profit typically distributed among partners?Options: EquallyBased..
Question: What is the primary purpose of preparing a trial balance?Options: To calculate net incomeT..
Question: When a partner withdraws from the partnership, what is the journal entry?Options: Debit Ca..
Question: What accounting standard governs the recognition of revenue in partnerships?Options: IFRS ..
Question: Which inventory valuation method is often preferred by partnerships for tax purposes?Optio..
Question: What method of depreciation is commonly used for partnership assets?Options: Straight-line..
Question: How is goodwill treated in the final accounts of a partnership?Options: As an assetAs a li..
Question: What is the purpose of preparing a final account in a partnership?Options: To determine th..
Question: Which method is commonly used for inventory valuation in partnership accounts?Options: FIF..
Question: What is the journal entry for the withdrawal of a partner\'s capital?Options: Debit Capita..
Question: How is the profit-sharing ratio determined in a partnership?Options: Equal distribution am..
Question: What is the effect of depreciation on partnership accounts?Options: Increases net incomeDe..
Question: Which accounting standard governs the treatment of partnership accounts?Options: AS 1AS 2A..
Question: What is the journal entry for the revaluation of assets in a partnership?Options: Debit As..
Question: Which of the following is NOT included in the trial balance?Options: AssetsLiabilitiesExpe..
Question: What is the purpose of preparing a profit and loss appropriation account in a partnership?..
Question: What is the effect of a partner\'s withdrawal on the capital accounts?Options: Increase in..
Question: How is depreciation treated in the final accounts of a partnership?Options: As an expense ..
Question: What method is commonly used for inventory valuation in partnership firms?Options: FIFOLIF..
Question: Which accounting standard governs the accounting for partnerships in India?Options: AS 1AS..
Question: What is the journal entry for the distribution of profits among partners?Options: Debit Pr..
Question: How is goodwill calculated when a new partner is admitted?Options: Average profit multipli..
Question: Which of the following is NOT a component of the trial balance?Options: AssetsLiabilitiesI..
