From the 6th century BCE onwards, political power in India saw significant shifts. Though birth in the Kshatriya varna was a traditional claim to kingship, actual power often depended on military ability, support, and resources.
This period witnessed the emergence of powerful states like Magadha and Kosala. Leadership in these states was often acquired through conquest and strategic alliances rather than strictly through lineage.
He is believed to have come from a lower caste background but rose to power through military strength and administrative control, challenging the exclusive claim of Kshatriyas.
With the help of Chanakya, Chandragupta overthrew the Nanda dynasty and founded the Mauryan Empire. His rise signifies the importance of strategy and support over birth-based hierarchy.
Texts like the Arthashastra focus on political pragmatism and administrative efficiency rather than varna-based entitlement. This reflects a shift towards merit and resource mobilization as criteria for rulership.
Thus, although Kshatriya birth was idealized in theory, the actual exercise of political power was often determined by practical considerations like support, strategy, and wealth.
Aakash and Baadal entered into partnership on 1st October 2023 with capitals of Rs 80,00,000 and Rs 60,00,000 respectively. They decided to share profits and losses equally. Partners were entitled to interest on capital @ 10 per annum as per the provisions of the partnership deed. Baadal is given a guarantee that his share of profit, after charging interest on capital, will not be less than Rs 7,00,000 per annum. Any deficiency arising on that account shall be met by Aakash. The profit of the firm for the year ended 31st March 2024 amounted to Rs 13,00,000.
Prepare Profit and Loss Appropriation Account for the year ended 31st March 2024.