12th class Principle of Accounting chapter 4 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 4 (Accounts of Join Stock Companies)

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Sr.#	Question	Answer
1	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)
2	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
3	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
4	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
5	Maximum numebr of the partners in an ordinary Partinership.	A. Ten partners B. Twentry partners C. Thirty partners D. Fourth partners
6	Capital of the partners are maintained under.	A. Fixed capital method B. Fluctuating method C. By any two of the above D. None of the above
7	For the firm, interest on drawing is.	A. Expense B. Income C. Liability D. None of these
8	A partner, who hasnot attained the age of majority is called.	A. Junior partner B. Minor partner C. Nominal patner D. Quasi Partner
9	The persons who have entered two partnership are individually called.	A. Agents B. Partners C. A firm D. Vendor
10	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