If a minor choose to continue as a partner on attaining the age of majority, he will be liable to the debts of the firm from the date of his

A manager is paid 5% commission on the net profit after charging such commission. The gross profit of the firm is Rs. 40,000 and the selling expense is Rs. 29,500. His commission will be

The closing stock of a sports club was of cricket bats worth Rs. 1,000. Bats worth 6,000 were used during the year. The opening stock of bats at the beginning was Rs. 800. Which of the following sentence is correct?

Which of the following are the motives of mergers? Indicate the correct answer:
1. Gain the economies of scale.
2. Utilize under-utilized resources.
3. Break the monopoly.
4. Reduce tax liability

Under capitalisation method, goodwill is calculated by

Arrange the following in correct sequence in the event of dissolution of a partnership firm.
1. If surplus, it is distributed among the partners.
2. The assets of the firm are realised.
3. Amount realised is applied towards repayment of liabilities to outsiders and loan taken from partners.
4. Capital contributed by partners is repaid.
Select the correct answer: