| 1 |
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
|
| 2 |
Sacrificing rations are equal to. |
- A. Capital Ratios- New ratios
- B. Old ratios - New ratios
- C. New ratio - old ratios
- D. None of these
|
| 3 |
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
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| 4 |
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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| 5 |
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
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| 6 |
Good will is |
- A. Expense
- B. Profit
- C. Assets
- D. Liability
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| 7 |
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
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| 8 |
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
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| 9 |
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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| 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
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