12th class Principle of Accounting chapter 5 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 5 (Depreciation, Provisions and Reserves)

Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test" MCQ`s Test

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Subtain Ahmed Raza 15 - Jul - 2023 02 Min 34 Sec 15/15
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Zainab Malik 02 - Jun - 2026 03 Min 02 Sec 13/15
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Sheikh Zadi 13 - May - 2023 01 Min 33 Sec 12/15
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Malaika MA 03 - Aug - 2024 02 Min 43 Sec 12/15
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Gullezahra Hassan 09 - May - 2024 02 Min 49 Sec 12/15
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Shantul Gabol 10 - Dec - 2023 03 Min 16 Sec 12/15
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Zafar Ali 07 - Jun - 2024 00 Min 11 Sec 11/15
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youth flavour 14 - Dec - 2024 03 Min 40 Sec 11/15
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Fazilat Official 05 - Dec - 2025 01 Min 49 Sec 10/15
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Rana Muneeb 08 - May - 2023 02 Min 59 Sec 10/15
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Asif Attari 20 - Mar - 2024 05 Min 12 Sec 10/15
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Taiba Siddique 31 - May - 2024 00 Min 22 Sec 9/15
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Raja Musa Sohail 08 - May - 2024 03 Min 31 Sec 9/15
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Taha Ali 07 - May - 2024 05 Min 22 Sec 9/15
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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	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	Revaluation account is a.	A. Real account B. Personal account C. Cash account D. Nominal account
3	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
4	Good will is.	A. Tangible asset B. Imtamgon;e asset C. Wasting assets D. Frictious assets
5	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
6	Profit of revaluation should be credited to.	A. Revaluation account B. Liabilites accounts C. Old partners capital accounts D. Assets accounts
7	Good will is	A. Expense B. Profit C. Assets D. Liability
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	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	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

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12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 5 (Depreciation, Provisions and Reserves)

ICOM Part 2 English Medium Principles of Accounting Chapter 5 MCQ's Test

ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test"

Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test

Profit of revaluation should be credited to.

A new partner may be admitted to a partnership.

Revaluation account is a.

When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.

On the admission of a new partneer the decreasein the value of assets is debited to.

On the addimissionof a new partner the increase int he value of assets is debited

Good will is

The balance of revaluation accoun tis transferred to the old partners capital accounts in their.

Revaluation loss should be debited to.

In the absence of an agreement, the share of new partner in patnership will be.

The amount of good will broght in cash by nw partner will be credited to old partner in.

If the goods will raised at the tim e of admissionof a new partner will be written off in.

Sacrificing rations are equal to.

The extra amount charged fromt he new partner over and above the capital is for.

Profit on revalutin is to be caredited to old partners in their

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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

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Muhammad Farooq

Muhammad Farooq