Which of the following is a feature of a joint stock company? MCQ with Answer and Explanation

Explanation:
Salary to partners is allowed only if partnership deed provides. Interest on capital is not automatic. Profits sharing can be unequal. Minor cannot be a partner, only admitted to benefits.

Explanation:
Direct taxes, like Income Tax and Wealth Tax, are levied directly on the income and wealth of individuals or entities. The burden of direct taxes cannot be shifted to someone else. S1 is correct, S2 is incorrect.

Explanation:
Abnormal losses are not treated as a cost of production; they are transferred directly to the Costing P&L account to avoid inflating product costs.