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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 amount of good will broght in cash by nw partner will be credited to old partner in.
Question # 2
General reserve at the time of admission of anew partner is credited.
Question # 3
The extra amount charged fromt he new partner over and above the capital is for.
Question # 4
Sacrificing rations are equal to.
Question # 5
On the admission of a new partneer the decreasein the value of assets is debited to.
Question # 6
A new partner may be admitted to a partnership.
Question # 7
When a new partner is admitted with out the consent of the old partner.
Question # 8
Revaluation loss should be debited to.
Question # 9
If the goods will raised at the tim e of admissionof a new partner will be written off in.
Question # 10
Profit of revaluation should be credited to.
Question # 11
Revaluation account is a.
Question # 12
Value of the good will is calculated under capitalization formula.
Question # 13
The balance of revaluation accoun tis transferred to the old partners capital accounts in their.
Question # 14
Good will is
Question # 15
In the absence of an agreement, the share of new partner in patnership will be.
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
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Good will is |
A. Expense
B. Profit
C. Assets
D. Liability
|
| 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 | General reserve at the time of admission of anew partner is credited. |
A. New partner capital account
B. General reserve account
C. Old parners capital account
D. All partners capital account
|
| 4 | Revaluation loss should be debited to. |
A. Revaluation account
B. All partners capital account
C. Old partners capital accounts
D. New partners capital account
|
| 5 | Profit of revaluation should be credited to. |
A. Revaluation account
B. Liabilites accounts
C. Old partners capital accounts
D. Assets accounts
|
| 6 | When a new partner is admitted with out the consent of the old partner. |
A. Partnership will be dissolved
B. Will value
C. Agreed value
D. None of these
|
| 7 | 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
|
| 8 | 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
|
| 9 | Revaluation account is a. |
A. Real account
B. Personal account
C. Cash account
D. Nominal account
|
| 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