12th class Principle of Accounting chapter 6 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 6 (Partnership Accounts Profit Distribution)

ICOM Part 2 English Medium Principles of Accounting Chapter 6 MCQ's Test

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Principles of Accounting

6th Chapter

ICOM Part 2 English Medium Principles of Accounting Chapter 6 MCQ's Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.#	Question	Answer
1	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
2	Amount due to the deceased partner is generally transferred to	A. Executor's loan B. Profit and loss accounts C. Capital account D. None of thess
3	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
4	Amount of to the out going partner is shown in the balance sheet as his.	A. Liability B. Loan C. Capital D. Assets
5	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
6	Partner's capital are affected due to.	A. Admission of a partner B. Retirement of the partner C. Death of a partner D. All of the above
7	In case of retirement the amount of the general reserve any other profit is credited to all partners in.	A. Sacrificing Ratios B. New profit sharing ratios C. Old prift sharing ratios D. Gaining ratios
8	In case of los on revaluation of assets and liabilities should be debited to.	A. Retiring partners capital accounts B. All partners capital accounts C. Remaining patners capitala account D. None of these
9	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
10	The gaining ratio are calculated on.	A. Admissionof a partner B. Death of a partner C. Retirement of a partner D. None of these

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