Short answers : Solutions of Questions on Page Number : 252 Q1 : State the difference between dissolution of partnership and dissolution of partnership firm. Answer : Basis of Difference Dissolution of Partnership Dissolution of Partnership firm Meaning It means change in the partnership deed (or the agreement) among the partners. It means that the … Read more
Short answers : Solutions of Questions on Page Number : 217 Q1 :What are the different ways in which a partner can retire from the firm? Answer : The following are the different ways in which a partner can retire from a firm. i. With the consent of all other partners: A partner must take … Read more
Short answers numerical questions long answers : Solutions of Questions on Page Number : 167 Q1 : Identify various matters that need adjustments at the time of admission of a new partner. Answer : The following are the various items that need to be adjusted at the time of admission of a new partner. 1. … Read more
Short answers : Solutions of Questions on Page Number : 100 Q1 :Define Partnership Deed. Answer : Partnership Deed is a written agreement among the partners of a partnership firm. It includes agreement on profit sharing ratio, salaries, commission of partners, interest provided on partner’s capital and drawings and interest on loan given or taken … Read more
Short answers : Solutions of Questions on Page Number : 285 Q1 :What is a Cash Flow Statement? Answer : A Cash Flow Statement is a statement showing inflows and outflows of cash and cash equivalents from operating, investing and financing activities of a company during a particular period. It explains the reasons of receipts … Read more
Short answers long answers : Solutions of Questions on Page Number : 272 Q1 :What do you mean by Ratio Analysis? Answer : Ratio Analysis is a technique of financial analysis. It describes the relationship between various items of Balance Sheet and Income Statements. It helps us in ascertaining profitability, operational efficiency, solvency, etc. of … Read more
Short answers numerical questions long answers : Solutions of Questions on Page Number : 198 Q1 :List the techniques of Financial Statement Analysis. Answer : The following are the commonly used techniques of Financial Statement analysis : 1. Comparative Financial Statements 2. Common Size Financial Statements 3. Trend Analysis 4. Ratio Analysis 5. Cash Flow … Read more
Short answers long answers : Solutions of Questions on Page Number : 172 Q1: State the meaning of financial statement analysis? Answer: A critical and thorough examination of the financial statements of a company in order to understand the data contained in it, is known as ‘Financial Statement Analysis‘. It helps in identifying and understanding … Read more
Short answers long answers : Solutions of Questions on Page Number : 142 Q1 :What is meant by a Debenture? Answer : The word Debenture is derived from a Latin word ‘debere’ which means to borrow. A debenture is issued in the form of a certificate under the seal of a company and containing a … Read more
Short answerslong answers : Solutions of Questions on Page Number : 65 Q1 :What is public company? Answer : A public company is defined as a company that offers a part of its ownership in the form of shares, debentures, bonds, securities to the general public through stock market. There must be atleast seven members … Read more