Question : Rent paid to a partner is debited to:

Option 1: Partner's Capital A/c

Option 2: Profit and Loss A/c

Option 3: Profit and Loss Appropriation A/c

Option 4: Partner's Current A/c

Question : Interest on capital to partners is credited to:

Option 1: Profit and Loss A/c

Option 2: Profit and Loss Appropriation A/c

Option 3: Partner's capital/current A/c

Option 4: Cash A/c

Question : A, B and C are partners in a firm with fixed capitals Rs.10,000, Rs.20,000 and Rs.30,000 respectively. The profit for the year is Rs.9,000. In the absence of the partnership deed, the profit is divided among A, B and C in _____ ratio.

Option 1: 1:2:3

Option 2: 1:1:1

Option 3: 3:2:1

Option 4: None of these

Question : Interest on partner's drawings is credited to:

Option 1: Profit and Loss A/c

Option 2: Profit and Loss Appropriation A/c

Option 3: Partner's Capital A/c

Option 4: Partner's Current Alc

Question : The interest on Partner's Capital Accounts is to be credited to

Option 1: Profit and Loss A/c

Option 2: Interest A/c

Option 3: Partner's Capital A/c

Option 4: None of these