Give the meaning of ‘Liability of Partners’ as a feature of partnership. (C.B.S.E 2020) Post category:Accountancy Reading time:1 mins read SOLUTION The liability of partners is unlimited jointly and severally. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat is the status of partnership firm from an accounting viewpoint? Next PostWhat is the minimum number of partners a firm should have? You Might Also Like A, B and C are partners decided that no interest on drawings is to be charged to any partner. But after one year ‘C’ wants that interest on drawings should be charged to every partner. State how ‘C’ can do this. September 26, 2022 Cash Sales Rs. 2,20,000; Credit Sales Rs. 3,00,000; Sales Return Rs. 20,000; Gross Profit Rs. 1,00,000; Operating Expenses Rs. 25,000; Non-operating incomes Rs. 30,000; Non-operating Expenses Rs. 5,000. Calculate Net Profit Ratio. August 17, 2022 What are liquid assets? October 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C are partners decided that no interest on drawings is to be charged to any partner. But after one year ‘C’ wants that interest on drawings should be charged to every partner. State how ‘C’ can do this. September 26, 2022
Cash Sales Rs. 2,20,000; Credit Sales Rs. 3,00,000; Sales Return Rs. 20,000; Gross Profit Rs. 1,00,000; Operating Expenses Rs. 25,000; Non-operating incomes Rs. 30,000; Non-operating Expenses Rs. 5,000. Calculate Net Profit Ratio. August 17, 2022