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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
The extra amount charged fromt he new partner over and above the capital is for.
Question # 2
On the addimissionof a new partner the increase int he value of assets is debited
Question # 3
When a new partner is admitted with out the consent of the old partner.
Question # 4
The amount of good will broght in cash by nw partner will be credited to old partner in.
Question # 5
Revaluation account is a.
Question # 6
Good will is.
Question # 7
When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.
Question # 8
In the absence of an agreement, the share of new partner in patnership will be.
Question # 9
Old prifit sharing ratio minus new profit sharing ratio is equal for.
Question # 10
General reserve at the time of admission of anew partner is credited.
Question # 11
Revaluation loss should be debited to.
Question # 12
A new partner may be admitted to a partnership.
Question # 13
Good will is
Question # 14
On the admission of a new partneer the decreasein the value of assets is debited to.
Question # 15
Sacrificing rations are equal to.
ICOM Part 2 English Medium Principles of Accounting Chapter 5 MCQ's Test
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S Sheikh Zadi 13 - May - 2023 01 Min 33 Sec 12/15 -
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F Fatima Waseem 09 - Dec - 2024 07 Min 07 Sec 9/15
ICom Part II Class Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 3 | 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
|
| 4 | 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
|
| 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
|
| 6 | The balance of revaluation accoun tis transferred to the old partners capital accounts in their. |
A. Sacrificing ratio
B. Old profit shairng ratio
C. New profit sharing ratio
D. Equal profit shairng ratio
|
| 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
|
| 8 | 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
|
| 9 | Sacrificing rations are equal to. |
A. Capital Ratios- New ratios
B. Old ratios - New ratios
C. New ratio - old ratios
D. None of these
|
| 10 | Revaluation account is a. |
A. Real account
B. Personal account
C. Cash account
D. Nominal account
|
Test Questions
