Solve 2012 CBSE-Accountancy Question Paper (Set-1) given here.
1. Name an item which is never shown on the ‘Payments’ side of ‘Receipts and Payments Account’, but is shown as an Expense while preparing ‘Income and Expenditure Account’.
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2. A partnership deed provides for the payment of interest on capital but there was a loss instead of profits during the year 2010 — 2011. At what rate will the interest on capital be allowed ?
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3. Give any one distinction between sacriticing ratio and gaining ratio.
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4. State any one purpose for admitting a new partner in a firm?
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5. What is meant by calls in advance ?
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