| 1 |
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
|
| 2 |
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
|
| 3 |
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
|
| 4 |
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
|
| 5 |
Revaluation account is a. |
- A. Real account
- B. Personal account
- C. Cash account
- D. Nominal account
|
| 6 |
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
|
| 7 |
Good will is. |
- A. Tangible asset
- B. Imtamgon;e asset
- C. Wasting assets
- D. Frictious assets
|
| 8 |
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
|
| 9 |
Revaluation loss should be debited to. |
- A. Revaluation account
- B. All partners capital account
- C. Old partners capital accounts
- D. New partners capital account
|
| 10 |
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
|
