Nature and Purpose of Business 1. Nature of Business: • Business refers to the organized effort by individuals or groups to produce goods and services to satisfy consumer needs and desires in exchange...
Dependent Branch: A branch which is dependent upon Head Office mainly for “Goods and Cash”. Books of accounts relating to such branch also will be maintained by Head Office. Features of Dependent...
Q1. X and Y are partners sharing profits and losses in the ratio of 3: 2 with capitals of Rs. 50,000 and Rs. 30,000 respectively. Each partner is entitled to 6% interest on his capital. X is entitled to...