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12th Principles of Accounting Chapter 4 Test

Here you can prepare 12th Class Principles of Accounting Chapter 4 Accounts of Join Stock Companies Test. Click the button for 100% free full practice test.

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)

This online test contains MCQs about following topics:

. Definition of Joint Stock Company . Characteristics . Kinds of Companies . Formation of a Public Limited Company . Important Legal Documents of a Public Limited Company . Share Capital of a Joint Stock Company . Issuance of Shares . Accounting for Issue of Shares-first or Initial Issue . Subsequent Issue of Shares . Debentures and its Kinds . Characteristics of Debentures . Issue of Debentures . Difference between a Shareholder and a Debentureholder . Important Details Relating to Debentures . Why Companies Prefer to Debenture Issue . Different Stages of Debentures

ICOM Part 2 Accounting Ch 4 Test
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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)

Sr. # Questions Answers Choice
1 Investment in partnership is made byintroducing.
  • A. Cash
  • B. Non cash assets
  • C. Cash or non cash assets
  • D. None of these
2 The agreement among the partners which sets out the term is which they have agreed to form a partnership is called.
  • A. Partnership deed
  • B. Aribtrartio clause
  • C. Partnership at will
  • D. None of these
3 A partner who takes an active part in the managment of the firm is called.
  • A. Active partner
  • B. Sleeping partner
  • C. Norminal partner
  • D. Quasi partner
4 Partnership is formed under the act of.
  • A. 1984
  • B. 1932
  • C. 1912
  • D. 1962
5 The persons who have entered two partnership are individually called.
  • A. Agents
  • B. Partners
  • C. A firm
  • D. Vendor
6 The persons who have entered in partnership are collctive called.
  • A. A firm
  • B. Agents
  • C. Partners
  • D. Promoters
7 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)
8 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
9 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
10 A paartner who have a major investment in the firm and receive a relatively more profit is called.
  • A. Sleeping partner
  • B. Darment partner
  • C. Senior partner
  • D. Estoppels partner

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test

S

SEO Guru

Lahore28 - Jun - 2022

12/15
02 Mins 12 Sec
H

Hamza Abid

Abbottabad29 - Jun - 2022

12/15
10 Mins 50 Sec
S

Samar

Lahore20 - May - 2022

10/15
02 Mins 30 Sec
U

Umaima Kashif

Lahore04 - Jun - 2022

9/15
01 Mins 45 Sec
H

Hamza Abid

Abbottabad28 - Jun - 2022

8/15
10 Mins 50 Sec

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