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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test
00:00
Question # 1
Interest on drawing is debited to.
Question # 2
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.
Question # 3
Current accoujts of the partners should be opened when the capital are.
Question # 4
The investment in partners capital accounts is to be credited to.
Question # 5
Investment in partnership is made byintroducing.
Question # 6
Partnership is formed under the act of.
Question # 7
Registraion of the firm.
Question # 8
Maximum numebr of the partners in an ordinary Partinership.
Question # 9
The persons who have entered in partnership are collctive called.
Question # 10
A partner, who hasnot attained the age of majority is called.
Question # 11
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.
Question # 12
In case of banking business, the numerb of persons must not exceed.
Question # 13
A partner who is newly admitted to the firm with the consent of all the parties is called.
Question # 14
In the absence of an agreement partners shall
Question # 15
A partner who takes an active part in the managment of the firm is called.
ICOM Part 2 English Medium Principles of Accounting Chapter 4 MCQ's Test
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F Fazilat Official 05 - Dec - 2025 01 Min 02 Sec 15/15 -
M Malaika MA 03 - Aug - 2024 01 Min 23 Sec 15/15 -
S Subtain Ahmed Raza 15 - Jul - 2023 01 Min 47 Sec 15/15 -
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H Huzaifa Arfeen 18 - May - 2023 03 Min 55 Sec 12/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If some proparty is owned jointly with out any attention to carry on a business it is called. |
A. Partnership
B. Co- ownership
C. Sole ownership
D. Agency
|
| 2 | A paatner who invests capital inthe business but does not take active part in the conduct of the business is called. |
A. Active partner
B. Sleeping partner
C. Secrete partner
D. None of these
|
| 3 | A person whoinvest the minor portion of capital in the business and so he has small share in the profit is called. |
A. Senior partner
B. Junior partner
C. quast partner
D. Nominal patner
|
| 4 | In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of. |
A. 5 persent
B. 6 persent
C. 8 persent
D. 9 persent
|
| 5 | Liability of the partners in partnership is. |
A. Limited
B. Unlimited
C. Limited up to the extent of their capitals
D. Depend on the will of the partners
|
| 6 | For the firm, interest on drawing is. |
A. Expense
B. Income
C. Liability
D. None of these
|
| 7 | Current accoujts of the partners should be opened when the capital are. |
A. Fixed
B. Fluctuating
C. Either fixed or fluctuating
D. None of these
|
| 8 | Registraion of the firm. |
A. It is legally necessary
B. It is optional
C. It depends on the will of the partners
D. It depends uopon the will of theemployee
|
| 9 | The investment in partners capital accounts is to be credited to. |
A. Partners capital accounts
B. Profit and loss account
C. Interest account
D. None of these
|
| 10 | The persons who have entered two partnership are individually called. |
A. Agents
B. Partners
C. A firm
D. Vendor
|
Test Questions
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