12th class Principle of Accounting chapter 5 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 5 (Depreciation, Provisions and Reserves)

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.#	Question	Answer
1	Revaluation loss should be debited to.	A. Revaluation account B. All partners capital account C. Old partners capital accounts D. New partners capital account
2	The balance of revaluation accoun tis transferred to the old partners capital accounts in their.	A. Sacrificing ratio B. Old profit shairng ratio C. New profit sharing ratio D. Equal profit shairng ratio
3	Profit of revaluation should be credited to.	A. Revaluation account B. Liabilites accounts C. Old partners capital accounts D. Assets accounts
4	Value of the good will is calculated under capitalization formula.	A. Average profit / reasonable return x 100 B. Resonable return / average profit x 100 C. Averager profit x 100 / resonable return D. None of these
5	If the goods will raised at the tim e of admissionof a new partner will be written off in.	A. Old prifit sharing ratios B. Capitals ratios C. New profit - Old ratios D. Sacrificing ratios
6	Old prifit sharing ratio minus new profit sharing ratio is equal for.	A. Sacrifing ratios B. Gaining ratios C. Distributing ratios D. None of these
7	Profit on revalutin is to be caredited to old partners in their	A. Sacrificing ratio B. New profit shiaring ratio C. Old prift sharing ratio D. Equal prift sharing ratio
8	Sacrificing rations are equal to.	A. Capital Ratios- New ratios B. Old ratios - New ratios C. New ratio - old ratios D. None of these
9	On the addimissionof a new partner the increase int he value of assets is debited	A. Revaluation account B. Assets account C. Old partners capital account D. New partners capital account
10	In the absence of an agreement, the share of new partner in patnership will be.	A. In the portion of capital B. Equal C. According to work D. None of the above

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12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 5 (Depreciation, Provisions and Reserves)

ICOM Part 2 English Medium Principles of Accounting Chapter 5 MCQ's Test

ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test"

Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test

Value of the good will is calculated under capitalization formula.

When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.

Profit on revalutin is to be caredited to old partners in their

The extra amount charged fromt he new partner over and above the capital is for.

On the addimissionof a new partner the increase int he value of assets is debited

The balance of revaluation accoun tis transferred to the old partners capital accounts in their.

Sacrificing rations are equal to.

The amount of good will broght in cash by nw partner will be credited to old partner in.

Revaluation loss should be debited to.

A new partner may be admitted to a partnership.

When a new partner is admitted with out the consent of the old partner.

Old prifit sharing ratio minus new profit sharing ratio is equal for.

Good will is

Good will is.

In the absence of an agreement, the share of new partner in patnership will be.

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ICOM Part 2 English Medium Principles of Accounting Chapter 5 MCQ's Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

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Muhammad Farooq

Muhammad Farooq