[{"id":244370,"question":"Value of the good will is calculated under capitalization formula.","choices":[{"text":"Average profit / reasonable return x 100","value":"A"},{"text":"Resonable return / average profit x 100","value":"B"},{"text":"Averager profit x 100 / resonable return","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":244264,"question":"Revaluation loss should be debited to.","choices":[{"text":"Revaluation account","value":"A"},{"text":"All partners capital account","value":"B"},{"text":"Old partners capital accounts","value":"C"},{"text":"New partners capital account","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244263,"question":"Profit of revaluation should be credited to.","choices":[{"text":"Revaluation account","value":"A"},{"text":"Liabilites accounts","value":"B"},{"text":"Old partners capital accounts","value":"C"},{"text":"Assets accounts","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244262,"question":"The amount of good will broght in cash by nw partner will be credited to old partner in.","choices":[{"text":"Gaining Ratio","value":"A"},{"text":"New Ratio","value":"B"},{"text":"Old Ratio","value":"C"},{"text":"Sacrifice Ratio","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244261,"question":"In the absence of an agreement, the share of new partner in patnership will be.","choices":[{"text":"In the portion of capital","value":"A"},{"text":"Equal","value":"B"},{"text":"According to work","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244260,"question":"Good will is","choices":[{"text":"Expense","value":"A"},{"text":"Profit","value":"B"},{"text":"Assets","value":"C"},{"text":"Liability","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244259,"question":"Good will is.","choices":[{"text":"Tangible asset","value":"A"},{"text":"Imtamgon;e asset","value":"B"},{"text":"Wasting assets","value":"C"},{"text":"Frictious assets","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244258,"question":"The extra amount charged fromt he new partner over and above the capital is for.","choices":[{"text":"Purchase of Machinery","value":"A"},{"text":"Good will","value":"B"},{"text":"Purchaser of furniture","value":"C"},{"text":"Payment of liabilities","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244257,"question":"On the addimissionof a new partner the increase int he value of assets is debited","choices":[{"text":"Revaluation account","value":"A"},{"text":"Assets account","value":"B"},{"text":"Old partners capital account","value":"C"},{"text":"New partners capital account","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244256,"question":"On the admission of a new partneer the decreasein the value of assets is debited to.","choices":[{"text":"Revaluation account","value":"A"},{"text":"Assets account","value":"B"},{"text":"Old parner's capital account","value":"C"},{"text":"New partner capital account","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":244255,"question":"When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.","choices":[{"text":"Good will accounts","value":"A"},{"text":"Cash Account","value":"B"},{"text":"Capital account of the incoming partner","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244254,"question":"Old prifit sharing ratio minus new profit sharing ratio is equal for.","choices":[{"text":"Sacrifing ratios","value":"A"},{"text":"Gaining ratios","value":"B"},{"text":"Distributing ratios","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":244253,"question":"Sacrificing rations are equal to.","choices":[{"text":"Capital Ratios- New ratios","value":"A"},{"text":"Old ratios - New ratios","value":"B"},{"text":"New ratio - old ratios","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244252,"question":"If the goods will raised at the tim e of admissionof a new partner will be written off in.","choices":[{"text":"Old prifit sharing ratios","value":"A"},{"text":"Capitals ratios","value":"B"},{"text":"New profit - Old ratios","value":"C"},{"text":"Sacrificing ratios","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244251,"question":"General reserve at the time of admission of anew partner is credited.","choices":[{"text":"New partner capital account","value":"A"},{"text":"General reserve account","value":"B"},{"text":"Old parners capital account","value":"C"},{"text":"All partners capital account","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244250,"question":"Profit on revalutin is to be caredited to old partners in their","choices":[{"text":"Sacrificing ratio","value":"A"},{"text":"New profit shiaring ratio","value":"B"},{"text":"Old prift sharing ratio","value":"C"},{"text":"Equal prift sharing ratio","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244249,"question":"The balance of revaluation accoun tis transferred to the old partners capital accounts in their.","choices":[{"text":"Sacrificing ratio","value":"A"},{"text":"Old profit shairng ratio","value":"B"},{"text":"New profit sharing ratio","value":"C"},{"text":"Equal profit shairng ratio","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":244248,"question":"Revaluation account is a.","choices":[{"text":"Real account","value":"A"},{"text":"Personal account","value":"B"},{"text":"Cash account","value":"C"},{"text":"Nominal account","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":244247,"question":"When a new partner is admitted with out the consent of the old partner.","choices":[{"text":"Partnership will be dissolved","value":"A"},{"text":"Will value","value":"B"},{"text":"Agreed value","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":244246,"question":"A new partner may be admitted to a partnership.","choices":[{"text":"With the consent of all the partners","value":"A"},{"text":"With the consent of any one of the partners","value":"B"},{"text":"With consent of two third the old partners","value":"C"},{"text":"Without the consent of old partners","value":"D"},{"value":"E"}],"correctAnswer":1}]