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Earn 100
How are capital adjustments made to ensure that partners' capitals are proportionate to the new profit-sharing ratio when a new partner is admitted?
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Important Questions on Reconstitution of a Partnership Firm
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What is the law of diminishing marginal product?
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What is the meaning of ‘Debentures issued as a collateral security’?
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How do you determine the new capital of each partner if it is agreed that the capital of all the partners should be proportionate to the new profit-sharing ratio?
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What is meant by recruitment? How is it different from selection?
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What does ‘Issue of debentures for consideration other than cash’ mean?
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What is meant by a debenture?
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Explain the relationship between the marginal products and the total product of an input.
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Why is it necessary to revalue assets and liabilities on the admission of a partner?
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What does it mean to issue debentures at a discount and redeemable at a premium?
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How is the revaluation of assets and liabilities treated in the books of account?
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Which function of management involves developing an organizational structure and allocating human resources?
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State the meaning of principles of management.
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Provide an example showing how the new capital of each partner is determined and necessary adjustments made.
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Explain the concept of a production function.
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How are assets and liabilities valued in the books of the firm after revaluation has been done?
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What does a bearer debenture mean?
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How is the revaluation of assets and reassessment of liabilities handled at the time of admission of a new partner?
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Why should assets and liabilities be revalued at the time of admission of a partner?
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Provide an example using an imaginary balance sheet to show the valuation of assets and liabilities after revaluation.
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Which management concept ensures that each employee has only one direct supervisor?
