Accounting for Partnership: Basic Concepts
CBSE · Class 12 · Accountancy
Flashcards for Accounting for Partnership: Basic Concepts — CBSE Class 12 Accountancy. Quick Q&A cards covering key concepts, definitions, and formulas.
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Get startedWhat is partnership in simple terms?
Answer
Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. It means more than working together; there must be a bus…
साधारण शब्दों में साझेदारी क्या है?
Answer
साझेदारी उन व्यक्तियों के बीच का संबंध है जो किसी व्यवसाय के लाभों को साझा करने के लिए सहमत हुए हैं, जो सभी या उनमें से किसी एक द्वारा सभी के लिए चलाया जाता है। इसका अर्थ केवल एक साथ काम करना नहीं है;…
साझेदारी की आवश्यक विशेषताएं क्या हैं?
Answer
आवश्यक विशेषताएं हैंः कम से कम दो व्यक्ति, एक समझौता, एक व्यवसाय, लाभ और हानि का साझाकरण, पारस्परिक एजेंसी, संयुक्त और कई देयता, और भागीदारों के अलावा कोई अलग कानूनी इकाई नहीं।…
What are the essential features of a partnership?
Answer
The essential features are: at least two persons, an agreement, a business, sharing of profits and losses, mutual agency, joint and several liability, and no separate legal entity apart from the partn…
Why does mere co-ownership of property not make two persons partners?
Answer
Mere co-ownership of a property does not amount to partnership. Partnership requires a business carried on for profit. So, joint ownership of property alone is not enough.
केवल संपत्ति के सह-स्वामित्व से दो व्यक्ति भागीदार क्यों नहीं बन जाते?
Answer
किसी सम्पत्ति में मेरी सह-स्वामित्व साझेदारी नहीं है। साझेदारी के लिए लाभ के लिए व्यवसाय चलाने की आवश्यकता होती है। तो, केवल सम्पत्ति की संयुक्त स्वामित्व पर्याप्त नहीं है।…
साझेदारी में पारस्परिक अभिकरण का क्या अर्थ है?
Answer
आपसी एजेंसी का अर्थ है कि प्रत्येक भागीदार फर्म के व्यवसाय के संबंध में अन्य भागीदारों के लिए प्रधान और एजेंट दोनों के रूप में कार्य करता है। एक भागीदार फर्म के लिए किए गए कार्यों द्वारा दूसरों को बाध…
What does mutual agency mean in partnership?
Answer
Mutual agency means each partner acts as both principal and agent for the other partners in relation to the firm's business. One partner can bind the others by acts done for the firm.
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Sources & Official References
- NCERT Official — ncert.nic.in
- CBSE Academic — cbseacademic.nic.in
- CBSE Official — cbse.gov.in
- National Education Policy 2020 — education.gov.in
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