| 1 |
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
|
| 2 |
Good will is |
- A. Expense
- B. Profit
- C. Assets
- D. Liability
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| 3 |
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
|
| 4 |
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
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| 5 |
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
|
| 6 |
Profit of revaluation should be credited to. |
- A. Revaluation account
- B. Liabilites accounts
- C. Old partners capital accounts
- D. Assets accounts
|
| 7 |
Revaluation loss should be debited to. |
- A. Revaluation account
- B. All partners capital account
- C. Old partners capital accounts
- D. New partners capital account
|
| 8 |
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
|
| 9 |
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
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| 10 |
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
|