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Accountancy, XII

  1. Define partnership?
  2. State and explain the features of partnership?
  3. What is partnership deed?
  4. State the contents of partnership deed?
  5. State the provisions affecting accounts in the absence of partnership deed.
  6. What is goodwill?
  7. State the factors affecting goodwill of a business?
  8. How will you calculate goodwill of a business.
  9. How will you calculate interest on drawings when a partner draws a specific amount in the beginning of every month/ middle of every month/ last day of every month.
  10. Explain various methods of valuation of goodwill?
  11. Develop a comprehensive problem in your own and from that pass necessary journal entries, prepare ledger accounts, trial balance , trading , profit and loss account and balancesheet on that date.
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