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(c)  Partner’s additional capital

(d)  None of these

(c)  Along with calls

On dissolution goodwill account is transferred to In the capital accounts of partners

Trade Liabilities will be paid first time out of sale proceeds of assets.

On dissolution of the partnership firm, partner’s capital Account are closed through Bank Account.

Nature of assets of goodwill is Intangible Assets.

Profit / loss on realization account is shared by the partners Profit sharing Ratio.

•  When there is a change in the profit-sharing ratio. 

•  When a new partner is admitted into a firm. 

•  When an existing partner retires from the firm or when a partner dies 

•  When a partnership firm is dissolved.

Factors determining goodwill: 

1. Profitability of the firm 

2. Favourable location of the business enterprise 

3. Good quality of good i and services offered 

4. Tenure of business enterprise 

5. Efficiency of management 

6. Degree of competition 

7. Other factors

1. Rent account should be debited with Rs. 500. 

2. Wages account should be credited with Rs. 250. 

3. Sales account should be debited with Rs. 1,500.

1. Rent received account is to be credited with Rs. 900. 

2. Salary account is to be debited with Rs. 1,100. 

3. Sales returns account should be credited with Rs. 800.

The accumulated profit and reserve are transferred to Partner’s capital account

(c) Retiring partner’s loan A/c 

The new profit sharing ratio between x and y will be  8:7  .

Excess of the credit side over debit side in revaluation A/C is Profit.

(b) i – 3, ii – 2, iii – 4, iv – 1

(d) A’s executors loan A/c

Personality refers to those attributes of a person that make him/her different from others

• Face-to-face communication is the distinction of being able to see the other party or parties in a conversation. 
• It allows for a better exchange of information since both speaker and listener are able to see and interpret body language and facial expressions.

Correct option is: (C) Workers and Lower management

Glycogenlysis.

Correct option is: (A) Necessary

Correct option is: (D) All of these

Correct option is: (D) Work and related authority

Answer: a. Unilever

Correct option is: (B) Voluntary

Correct option is: (B) Necessary

Interest payable on the capital of the partners is charged to Profit and loss appropriation A/C

In the absence of an agreement, partner are entitled to  Interest an loan and advance

Sacrificing Ratio is Old Ratio – New Ratio

1. Large Capital: A company can secure large capital compared to a sole trader or partnership. Large amount of capital is necessary for conducting business on a large scale. 

2. Limited Liability: The liability of a shareholder is limited. The risk of loss is limited to the unpaid amount on the face value of shares held. In the case of a company limited by shares, the liability of a shareholder is restricted to the unpaid amount on the shares held by him.

3. Transferability of Shares: Transaction of Shares between two individuals is easy. So there is liquidity of investment. Any shareholder can easily convert his shares into money by selling his shares.

ATM card is also called debit card. This card is more useful in purchase of goods and services anywhere in India if the shop maintains a swiping machine facility.

The factors affecting a channel of distribution are as follows:

1. Product Characteristics: Seasonal products are distributed through less layer of middlemen. Non standardized products that are made according to customer specifications may be delivered directly.

2. Market Characteristics: The size of the market for the goods is a major factor while selecting the route for distribution of products. 

3. Number of Consumers: Large purchases made by few consumers require centrelised distribution. 

4. Middlemen factor: Middlemen who are experienced and have produced more sales are wanted by all producers. Long channel naturally increases the cost and price of the product. 

5. Capacity of the Manufacturer: A financially strong producer may select a high technology oriented channel which will reduce cost in the long run.

Warehouses means a place where goods are stored for future use. 

For keeping the goods, the various documents are needed; they are as follows:

1. Warehousing Warrants: It is a document issued in favour of goods by the warehouse keeper. It is also used as a document of title to goods. 

2. Warehouse Keeper’s receipt: It is a document issued by the warehouse keeper, which acknowledges there receipt of goods from the owner of the goods.

3. Dock Warrant: Dock warrant is a document of title of goods issued by the dock authorities. This document certifies that the dock authorities hold the goods. 

4. Dock Receipt: Dock receipt is an acknowledgement of receipt of goods issued by the dock authorities to the owner of the goods. It is not a document of title to goods. 

5. Delivery Order: This is a document through which the depositor directs the warehouse keepers to deliver the goods to the party mentioned in the document.

Goodwill is paid to the retiring partner in Old profit sharing ratio

Goods produced may be stored till the time of demand. Hence the goods are stored in warehouses.

Also the goods are stored till the goods have good quality.

Warehouses create time utility by storing the goods throughout the year and release them as and when they are needed.

Several types of warehouses are used for storing of goods. 

They are as follows:

• Public warehouse 
• Private warehouse 
• Bonded warehouse

Bill of Lading is a document containing the terms and conditions of the contract of carriage. It is issued by the shipping company and signed by the captain of the ship.

It acknowledges the receipt of the goods described in it on board the ship. It also serves as an official receipt of goods. It is a document of title of goods.

Share of goodwill brought in cash by the new partner is called Premium

Correct Answer is: (b) Large

Features of government company: . 

1. Registrations under the companies Act: A government company is formed under the Companies Act 1956. 

2. Own staff: A government company has its own staff except government officials who are sent to it on deputation. 

3. Majority of the capital provided by the government: The whole or majority (at least 51%) of the capital of a government company is provided by the government.

In 1969, there were 14 private banks which were nationalised.

Correct option is: (A) Super profit

Correct option is: (A) Old partners

Profit or loss on revaluation is borne by  Old Partners

Private limited company is a type of company which is formed with minimum two shareholders and two directors, the minimum requirement with respect to authorised or paid up capital of Rs. 1,00,000 has been omitted by the Companies (Amendment) Act, 2015 w.e.f. 29^th of May, 2015.

Another crucial condition of a private limited company is that it by its articles of association restricts the right to transfer its shares and also prohibits any invitation to the public to subscribe for any securities of the company.

Factoring is derived from a Latin term “facere” which means ‘to make or do’. Factoring is an arrangement wherein the trade debts of a company are sold to a financial institution at a discount.

Factoring Process:

1. The firm enters into a factoring arrangement with a factor, which is generally a financial institution. 

2. Whenever goods are sold on credit basis, an invoice is prepared and a copy of the same is sent to the factor. 

3. The debt amount due to the firm is transferred to the factor through assignment. 

4. On the due date, the amount is collected by the factor from the customer. 

5. After retaining the service fees, the remaining amount is sent to the firm by the factor.

1. Storage 

2. Price stabilization 

3. Equalization of demand and supply

1. Storage 

2. Price stabilization 

3. Equalization of demand and supply

1. Storage 

2. Price stabilization 

3. Equalization of demand and supply