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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
In the absence of an agreement, the share of new partner in patnership will be.
Question # 2
Value of the good will is calculated under capitalization formula.
Question # 3
Revaluation loss should be debited to.
Question # 4
On the admission of a new partneer the decreasein the value of assets is debited to.
Question # 5
The balance of revaluation accoun tis transferred to the old partners capital accounts in their.
Question # 6
Profit on revalutin is to be caredited to old partners in their
Question # 7
When a new partner is admitted with out the consent of the old partner.
Question # 8
Good will is.
Question # 9
Old prifit sharing ratio minus new profit sharing ratio is equal for.
Question # 10
When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.
Question # 11
Sacrificing rations are equal to.
Question # 12
The extra amount charged fromt he new partner over and above the capital is for.
Question # 13
If the goods will raised at the tim e of admissionof a new partner will be written off in.
Question # 14
Profit of revaluation should be credited to.
Question # 15
General reserve at the time of admission of anew partner is credited.
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 | Profit of revaluation should be credited to. |
A. Revaluation account
B. Liabilites accounts
C. Old partners capital accounts
D. Assets accounts
|
| 2 | 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
|
| 3 | Good will is |
A. Expense
B. Profit
C. Assets
D. Liability
|
| 4 | The extra amount charged fromt he new partner over and above the capital is for. |
A. Purchase of Machinery
B. Good will
C. Purchaser of furniture
D. Payment of liabilities
|
| 5 | Good will is. |
A. Tangible asset
B. Imtamgon;e asset
C. Wasting assets
D. Frictious assets
|
| 6 | 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
|
| 7 | Revaluation account is a. |
A. Real account
B. Personal account
C. Cash account
D. Nominal account
|
| 8 | 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
|
| 9 | 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
|
| 10 | Sacrificing rations are equal to. |
A. Capital Ratios- New ratios
B. Old ratios - New ratios
C. New ratio - old ratios
D. None of these
|
Test Questions