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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test
00:00
Question # 1
The extra amount charged fromt he new partner over and above the capital is for.
Question # 2
Sacrificing rations are equal to.
Question # 3
Profit on revalutin is to be caredited to old partners in their
Question # 4
The amount of good will broght in cash by nw partner will be credited to old partner in.
Question # 5
If the goods will raised at the tim e of admissionof a new partner will be written off in.
Question # 6
Good will is
Question # 7
A new partner may be admitted to a partnership.
Question # 8
On the addimissionof a new partner the increase int he value of assets is debited
Question # 9
General reserve at the time of admission of anew partner is credited.
Question # 10
On the admission of a new partneer the decreasein the value of assets is debited to.
Question # 11
In the absence of an agreement, the share of new partner in patnership will be.
Question # 12
Value of the good will is calculated under capitalization formula.
Question # 13
Revaluation loss should be debited to.
Question # 14
Revaluation account is a.
Question # 15
When a new partner is admitted with out the consent of the old partner.
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F Fatima Waseem 09 - Dec - 2024 07 Min 07 Sec 9/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 3 | A new partner may be admitted to a partnership. |
A. With the consent of all the partners
B. With the consent of any one of the partners
C. With consent of two third the old partners
D. Without the consent of old partners
|
| 4 | Revaluation account is a. |
A. Real account
B. Personal account
C. Cash account
D. Nominal account
|
| 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 | Revaluation loss should be debited to. |
A. Revaluation account
B. All partners capital account
C. Old partners capital accounts
D. New partners capital account
|
| 7 | 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
|
| 8 | Good will is. |
A. Tangible asset
B. Imtamgon;e asset
C. Wasting assets
D. Frictious assets
|
| 9 | When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to. |
A. Good will accounts
B. Cash Account
C. Capital account of the incoming partner
D. All of the above
|
| 10 | 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
|
Test Questions