Bills of Exchange — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

The Indian Partnership Act is in force since ____________

Outstanding subscription at the end of the Accounting Year represents ___________

The person on whom a bill is drawn is called a ______________

The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______________

An amount received from the Insurance Company against the joint-life policy is _____________

Apte, Bhate and Chitale are sharing 1/2, 3/10, and 1/5 if Apte retire their new ratio will be ______________

Premium received on issue of shares is shown to ______________

M, N, and S are partners in a firm having joint life policy of ₹ 10,00,000 on which premium has been paid by the firm. M dies and his legal representatives want the whole amount of the policy whereas N and S want to distribute the amount among all the partners.

A balance on the Deceased Partner’s Executor’s Loan Account is shown in the new Balance Sheet on _____________ side.

A person who accepts the bill is called _____________