Accounting · Partnership Accounts
Match LIST-I with LIST-II: LIST-I (Concept/Adjustment) A. Time Basis B. Turnover or Sales Basis C. Payment in Instalments D. Deductions from amount due LIST-II (Rule/Application) I. Incurs an interest rate of 6% per annum. II. Includes drawings, interest on drawings, and undistributed losses. III. Profits are assumed to have arisen uniformly over the year. IV. Ascertains profits using sales for the entire year and sales up to the date of death. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-IV, B-I, C-III, D-II
- 2A-III, B-I, C-II, D-IV
- 3A-IV, B-III, C-II, D-I
- 4A-III, B-IV, C-I, D-II✓
Correct answer
A-III, B-IV, C-I, D-II
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