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)

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

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Principles of Accounting

5th Chapter

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	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
2	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
3	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
4	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
5	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
6	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
7	Sacrificing rations are equal to.	A. Capital Ratios- New ratios B. Old ratios - New ratios C. New ratio - old ratios D. None of these
8	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
9	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
10	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

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