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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
Liability of the partners in partnership is.
Question # 2
In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.
Question # 3
A partner who takes an active part in the managment of the firm is called.
Question # 4
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.
Question # 5
A person whoinvest the minor portion of capital in the business and so he has small share in the profit is called.
Question # 6
Partnership is formed by the partners.
Question # 7
In case of banking business, the numerb of persons must not exceed.
Question # 8
Interest on drawing is debited to.
Question # 9
If some proparty is owned jointly with out any attention to carry on a business it is called.
Question # 10
In partnership minimum limit of partners is.
Question # 11
The agreement among the partners which sets out the term is which they have agreed to form a partnership is called.
Question # 12
Current accoujts of the partners should be opened when the capital are.
Question # 13
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.
Question # 14
Maximum numebr of the partners in an ordinary Partinership.
Question # 15
Capital of the partners are maintained under.
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 | In the absence of an agreement partners shall |
A. Be paid salaries
B. Not to be paid the salaries
C. Be paid salaries by the consent of the pariners
D. Be paid salaris to thos who worked for the firm
|
| 2 | A partner, who hasnot attained the age of majority is called. |
A. Junior partner
B. Minor partner
C. Nominal patner
D. Quasi Partner
|
| 3 | Investment in partnership is made byintroducing. |
A. Cash
B. Non cash assets
C. Cash or non cash assets
D. None of these
|
| 4 | Interest on drawing is debited to. |
A. Partners capital accounts
B. Profit and loss account
C. Interest account
D. None of these
|
| 5 | In case of banking business, the numerb of persons must not exceed. |
A. Ten (10)
B. Twenty (20)
C. Tweinty five(25)
D. Fifty (50)
|
| 6 | For the firm, interest on drawing is. |
A. Expense
B. Income
C. Liability
D. None of these
|
| 7 | The persons who have entered in partnership are collctive called. |
A. A firm
B. Agents
C. Partners
D. Promoters
|
| 8 | In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of. |
A. Capitals
B. Profit and loss ratios
C. Equality
D. Time devoted by each partner
|
| 9 | When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called. |
A. Fluctuating capitals
B. Fixed capitals
C. Current capitals
D. None of these
|
| 10 | A partner does not take an acitive partner is the managment firm is called. |
A. Active partner
B. Sinior partner
C. Darment of sleeping partner
D. Nominal partner
|
Test Questions
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