Question : A and B are Partners in a firm. They are entitled to interest on capital, but if the net profit is not sufficient for this interest, then the net profit will be distributed among partners in

Option 1: Agreed ratio

Option 2: Profit sharing ratio

Option 3: Capital ratio

Option 4: Equally

Question : On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners ________.

Option 1: In capital ratio

Option 2: In Profit sharing ratio

Option 3: Equally

Option 4: None of the above

Question : On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners -

Option 1: In capital ratio

Option 2: In Profit sharing ratio

Option 3: Equally

Option 4: None of the above

Question : P, Q and  R are partners sharing profits in the ratio of 5: 3: 2. They decided to share future profits in the ratio of 2: 3: 5. What will be the accounting treatment of Workmen Compensation Reserve appearing in the Balance Sheet on that date when no other information is available for the same?

Option 1:  Distributed among partners in their capital ratio

Option 2: Distributed among partners in their new profit-sharing ratio

Option 3: Distributed among partners in their old profit-sharing ratio

Option 4: Carried forward to new Balance Sheet

Question : X y and Z are partners sharing profit  in the ratio of 5:3:2. They decided to share future profit in the ratio of 2:3:5. Workmen compensation reserve appearing in the  balance sheet on that date when no information as to workmen's compensation claim is given will be 

Option 1: Distributed among partners in their capital ratio 

Option 2: Distributed among partner in their new profit sharing ratio 

Option 3: Distributed among  partner in their old profit sharing ratio 

Option 4: Carried forward to new balance sheet