Where there is no partnership agreement, any contribution in excess of the agree capital attracts?

Cash discount is given for?

A. buying in large quantity B. prompt settlement of account C. being a regular customer D. introducing other customers E. sales returns Correct Answer: Option B – prompt settlement of account
Where there is no partnership agreement, any contribution in excess of the agree capital attracts?

Carriage outwards is charged to the?

A. debit side of profit and loss account B. credit side of profit and loss account C. credit side of trading account D. debit side of profit and loss Appropritation account E. debit side of Balance under current liabilities Correct Answer: Option A – debit side...

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