×

12th Principles of Accounting Chapter 5 Test

Here you can prepare 12th Class Principles of Accounting Chapter 5 Depreciation, Provisions and Reserves Test. Click the button for 100% free full practice test.

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)

This online test contains MCQs about following topics:

. Various Definition of Depreciation . Causes of Depreciation . Need for Provision of Depreciation . Depreciation Vs. Fluctuation . Characteristics of Depreciation . Methods of Charging Depreciation . Methods of Charging Depreciation . Distinction between Depreciation A/C and Depreciation Reserve A/C . Distinction between General Reserve & Specific Reserve . Distinction between Reserve and Provision . Distinction between Reserve and Reserve Fund

ICOM Part 2 Accounting Ch 5 Test
ic

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)

Sr. # Questions Answers Choice
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
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
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
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

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

S

Subtain Ahmed Raza

Lahore15 - Jul - 2023

15/15
02 Mins 34 Sec
S

Subtain Ahmed Raza

Lahore15 - Jul - 2023

14/15
01 Mins 25 Sec
S

Sohera Aslam

Lahore19 - Aug - 2023

8/15
05 Mins 06 Sec

Share your comments questions here
Sort By:
  • M

    Muhammad Farooq

    12 Sep 2017

    Only accounting test

    Like
    Reply
  • M

    Muhammad Farooq

    12 Sep 2017

    Test in accounting book

    Like
    Reply
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer