12th class Principle of Accounting chapter 7 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 7 (Partnership Accounts-Admission of a Partner)

ICOM Part 2 English Medium Principles of Accounting Chapter 7 MCQ's Test

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Principles of Accounting

7th Chapter

ICOM Part 2 English Medium Principles of Accounting Chapter 7 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 dissolution if there is any undivided profit are reserve should be credited to.	A. Partners capital accounts B. Realization accounts C. Reserve account D. Revaluation accounts
2	Un recorded liability when paid on dissolution of the firmis debited to.	A. Realization account B. Liability account C. Partners capital account D. None of these
3	Realizaton account is a.	A. Nominal account B. Real account C. Personal account D. Cash account
4	If all the partners but one is solvent it is.	A. Compulsory dissolution of firm B. Dissolution by agreement C. Or may not cause dissolution D. None of these
5	In case of Garner Vs. Murray rule, the decision was given is.	A. Mr. Justice james B. Mr Garner C. Mr. Justice joyee D. Mr. Murray
6	Generatal reserve at the time of dissolution is transferred to	A. All partners capital accounts B. Realization account C. Solvent partners capital account D. Insolvent patner's capital account
7	The Decision in Garner Va. Murray was given in.	A. 1905 B. 1904 C. 1804 D. 1933
8	When a firm dissolved with the consent of all the partners it is called.	A. Dissolution by notice B. Dissolution by agreement C. Dissolution by court D. Compulsory dissolution
9	The partnership may come to an end due to the	A. Death of a partner B. Involvency of a partner C. Both of the above D. None of these
10	The balance of revalution account is transferred to the capital accounts of the partners in.	A. Profit sharing ratios B. Capital ratios C. Equality D. None of these

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