Accounts of ‘Not for Profit’ Concerns — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Anuj and Eeshan are two partners sharing profits and losses in the ratio of 3 : 2. They decided to admit Aaroh for 1/5th share, the new profit sharing ratio will be __________

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.

ROCE should be ____________ than ROI.

When there is no partnership agreement between partners, the division of profits takes place in ____________ ratio.

To find out Net Profit or Net Loss of the business ____________ Account is prepared.

Which of the following items will not appear in the Balance Sheet of a club?

Premium received on issue of shares is shown to ______________

If a bill is drawn on 3rd July, 2020 for 40 days, its payment must be made on _____________