Which of the following is correct?

There is no provision in the partnership deed regarding the duration of partnership. This is

The partnership can be formed:

The essential elements of a partnership _________.

If a fixed amount is withdrawn on the middle day of every month of a calendar year, the interest on total amount of drawings will be calculator for

In the absence of an agreement, partners are entitled to

Partner by holding out is also known as ______.

Every partner is bound to attend diligently to his _____ in the conduct of the business.

Profit and Loss Appropriation Account is prepared for

Under annuity basis goodwill is calculated by

X and Y are partners sharing profit and losses in the ratio 4 : 1, Z was manager who received a salary of Rs. 8, 000 p. m in addition to a commission of 5% on net profit after charging such commission. Profit for the year is Rs. 13, 56, 000 before charging salary. Find the total remuneration of Z.

The profit of last five years are Rs. 1, 70, 000, Rs. 1, 80, 000, Rs. 1, 40, 000, Rs. 2, 00, 000 and Rs. 1, 60, 000. Find the value of goodwill, if it is calculated on average profit of last five year on the basis of three years purchase.

Unless agreed otherwise, it is presumed that

A, B and C are partners sharing profit in the ratio of 3 : 2 : 1. D is admitted. The new profit sharing ratio among A, B, C and D will be 3 : 3 : 2 : 2. The gain or sacrifice will be

X, Y and Z are partners sharing profit and losses in the ratio 5 : 3 : 2 decide to share the future profit in the ratio 2 : 3 : 5. What will be treatment for workmen compensation fund appearing in the balance sheet on the date if no information is available for the same?

A and B are partners sharing profit and loss in the ratio 5 : 3. They admitted C and agreed to give him 3/10^th of the profit. What is the new ratio after C's admission?

A and B are partners with capitals of Rs. 20, 000 and 40, 000 respectively and sharing profit equally. They admitted C as their third partner with one - fourth profit of the firm on the payment of Rs. 24, 000. The amount of hidden goodwill is

Goodwill bought in by incoming partner in cash for joining in a partnership firm is taken away by the old partners in

In a balance sheet prepared after the new partnership agreement, assets and liabilities are recorded at

A and B are partners sharing profit and loss in the ratio of 3 : 2 (A's capital is Rs. 60, 000 and B's capital is Rs. 30, 000). They admit C and agreed to give 1/5^th share of profit to him. How much should C bring in towards his capital?