Question
As per Partnership Act, In case a partner causes loss to
any third party, liability rests with____.Solution
Partnership Act S. 26 LIABILITY OF THE FIRM FOR WRONGFUL ACTS OF A PARTNER. Where, by the wrongful act or omission of a partner acting in the ordinary course of the business of a firm or with the authority of his partners, loss or injury is caused to any third party, or any penalty is incurred, the firm is liable therefor to the same extent as the partner.
The primary objective of an Internal Audit, as opposed to a Statutory Audit, is to:
In relation to auditing concepts, which of the following statements is INCORRECT?Â
In a computerized information processing cycle, which component involves saving data for future use?Â
State which statement is incorrect:
A company has opening inventory of ₹1,50,000 and closing inventory of ₹2,50,000. Purchases during the year were ₹10,00,000. What is the Inventory ...
SA 230 standard refers to:
If the fixed cost is Rs.43,500 and the company, the contribution is Rs.500 per unit, how many unit sales would a company need to do to earn a profit of ...
With respect to AS 13 relating to Accounting for Investments, which of the following statement is incorrect?
Which of these is not an example of a capital receipt?
Which of the following is true about amortisation of intangible assets under Ind AS?
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