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 : 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 : 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 : Choose which of the following statements is correct.

Option 1: Change in the profit-sharing ratio among the existing partners results in reconstitution of the firm.

Option 2: Change in Profit-sharing Ratio leads to dissolution of partnership and not of the firm.

Option 3: Both 1 and 2

Option 4: None of the above 

Question : In the absence of a partnership deed, the profit of a firm is distributed among the partners.

Option 1: In the ratio of capital.

Option 2: Equally

Option 3: In the ratio of time dereted for the firms business.

Option 4: according to the managerial abilities of the partners.