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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
Sacrificing rations are equal to.
Question # 2
General reserve at the time of admission of anew partner is credited.
Question # 3
Old prifit sharing ratio minus new profit sharing ratio is equal for.
Question # 4
When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.
Question # 5
When a new partner is admitted with out the consent of the old partner.
Question # 6
On the addimissionof a new partner the increase int he value of assets is debited
Question # 7
Good will is.
Question # 8
Profit on revalutin is to be caredited to old partners in their
Question # 9
The amount of good will broght in cash by nw partner will be credited to old partner in.
Question # 10
The balance of revaluation accoun tis transferred to the old partners capital accounts in their.
Question # 11
Good will is
Question # 12
In the absence of an agreement, the share of new partner in patnership will be.
Question # 13
If the goods will raised at the tim e of admissionof a new partner will be written off in.
Question # 14
Revaluation loss should be debited to.
Question # 15
The extra amount charged fromt he new partner over and above the capital is for.
ICOM Part 2 English Medium Principles of Accounting Chapter 5 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test" MCQ`s Test
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S Subtain Ahmed Raza 15 - Jul - 2023 02 Min 34 Sec 15/15 -
Z Zainab Malik 02 - Jun - 2026 03 Min 02 Sec 13/15 -
S Sheikh Zadi 13 - May - 2023 01 Min 33 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 43 Sec 12/15 -
G Gullezahra Hassan 09 - May - 2024 02 Min 49 Sec 12/15 -
S Shantul Gabol 10 - Dec - 2023 03 Min 16 Sec 12/15 -
Z Zafar Ali 07 - Jun - 2024 00 Min 11 Sec 11/15 -
Y youth flavour 14 - Dec - 2024 03 Min 40 Sec 11/15 -
F Fazilat Official 05 - Dec - 2025 01 Min 49 Sec 10/15 -
R Rana Muneeb 08 - May - 2023 02 Min 59 Sec 10/15 -
A Asif Attari 20 - Mar - 2024 05 Min 12 Sec 10/15 -
T Taiba Siddique 31 - May - 2024 00 Min 22 Sec 9/15 -
R Raja Musa Sohail 08 - May - 2024 03 Min 31 Sec 9/15 -
T Taha Ali 07 - May - 2024 05 Min 22 Sec 9/15 -
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 | 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
|
| 2 | Good will is |
A. Expense
B. Profit
C. Assets
D. Liability
|
| 3 | The amount of good will broght in cash by nw partner will be credited to old partner in. |
A. Gaining Ratio
B. New Ratio
C. Old Ratio
D. Sacrifice Ratio
|
| 4 | 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
|
| 5 | On the admission of a new partneer the decreasein the value of assets is debited to. |
A. Revaluation account
B. Assets account
C. Old parner's capital account
D. New partner capital account
|
| 6 | 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
|
| 7 | Sacrificing rations are equal to. |
A. Capital Ratios- New ratios
B. Old ratios - New ratios
C. New ratio - old ratios
D. None of these
|
| 8 | Good will is. |
A. Tangible asset
B. Imtamgon;e asset
C. Wasting assets
D. Frictious assets
|
| 9 | Revaluation loss should be debited to. |
A. Revaluation account
B. All partners capital account
C. Old partners capital accounts
D. New partners capital account
|
| 10 | 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
|
Test Questions
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Muhammad Farooq
12 Sep 2017Only accounting test
Muhammad Farooq
12 Sep 2017Test in accounting book