| 1 |
Profit and loss on revalution at the time of retirement must be transerred to the partners in. |
- A. Capital ratio
- B. Old prifit sharing ratio
- C. New profit sharing ratio
- D. Gaining ratio
|
| 2 |
The credit balance of retiring partner capital account if not paid in cash should be tranferred to. |
- A. Retiring partners loan account
- B. Retiring partners capital account
- C. Old partner capital account
- D. None of these
|
| 3 |
The profit on revaluation of assts and liabilities on the retirement of the partners should be credited to the capital account of. |
- A. All the partners
- B. Retiring partner
- C. Remaining partner
- D. None of these
|
| 4 |
On retirement of a partner the share of a retiring partner is taken by. |
- A. Remaining partner
- B. New partner
- C. Legal representator or retiring partner
- D. None of these
|
| 5 |
Amount of to the out going partner is shown in the balance sheet as his. |
- A. Liability
- B. Loan
- C. Capital
- D. Assets
|
| 6 |
A partner goes out of a firm due to certain event or reason is known as. |
- A. Retired or out going partner
- B. Junior partner
- C. Senior partner
- D. Minor partner
|
| 7 |
In case of retirement when the good will raised with retiring partner written off among the remaining partner. |
- A. In gaiing ratios
- B. Sacrifing ratios
- C. Capital ratios
- D. New ratio
|
| 8 |
If the good will raised at the time of retirement of a partner is to be written off, then the capital accounts of the remaiing partners are debited in. |
- A. Capital ratio
- B. Old profit sharing ratio
- C. New profit shiaring ratio
- D. None of these
|
| 9 |
Gaining ratios are equal to. |
- A. New Ratio - Old ratio
- B. Old ratio- New ratio
- C. New Ratio + old ratios
- D. Capital ratios- New Ratios
|
| 10 |
Joint life policy account after the maturity of the policy shoul dbe transferred to the capital accounts of the partners in. |
- A. Capital ratios
- B. Old profit sharing ratios
- C. New profit sharing ratio
- D. Gaining ratios
|
