| 1 |
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
|
| 2 |
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
|
| 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 |
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
|
| 5 |
The gaining ratio are calculated on. |
- A. Admissionof a partner
- B. Death of a partner
- C. Retirement of a partner
- D. None of these
|
| 6 |
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
|
| 7 |
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
|
| 8 |
The profit on the revaluation of the assets and liabilities o the retirement of the partner should be credited to. |
- A. All partners capital accounts
- B. Only retiring partners capitals accounts
- C. Remaiingng partners capital account
- D. None of these
|
| 9 |
On the detah of the partner the amount of the joint policy credited to the capital account of. |
- A. Remaining partners capital account
- B. All partners capital accounts
- C. Deceased parners capital account
- D. None of these
|
| 10 |
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
|
