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12th Principles of Accounting Chapter 8 Test

Here you can prepare 12th Class Principles of Accounting Chapter 8 Partnership Accounts-Retirement and Death Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 8 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 8 (Partnership Accounts-Retirement and Death)

This online test contains MCQs about following topics:

. Retirement of a Partner . Accounting Problems of Retirement . Change in Profits Sharing ratio on Retirement . Distinction between Gaining and Sacrificing ratio . Death of a Partner . Calculation od Deceased's Share of Profit . Joint Life Policy and its Accounting Treatment

ICOM Part 2 Accounting Ch 8 Test
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12th class Principle of Accounting chapter 8 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 8 (Partnership Accounts-Retirement and Death)

Sr. # Questions Answers Choice
1 Debentures holders are.
  • A. Creditors of the company
  • B. Owners of the company
  • C. Customer of the company
  • D. None of these
2 The rules and regulation foverning the internal management and administration of the company are called.
  • A. Memorandum of assocaition
  • B. Articles of association
  • C. Prospectus
  • D. None of these
3 A certificat issue by the company under its seal acknowledging a debt due by it to its holder, is called.
  • A. Debenture
  • B. Certificate of commencement
  • C. Acknowledge certificate
  • D. Noen of these
4 A situation where a company receives application for a less number of shares than offered to the public for subscription is termed as.
  • A. Oversubscription
  • B. Under subscription
  • C. No subscription
  • D. None of these
5 A company in which memebr gives a guarantee to contribute a specified sum to the company of its being wound up is called.
  • A. Limited company
  • B. Un limited company
  • C. Company limited by guarantee
  • D. Chartered company
6 Premium on issue of share is a.
  • A. Capital profit
  • B. Business loss
  • C. Revenue profit
  • D. Revenue loss
7 A situtation where a company receives a application for a less number of shares than offered to the public for subscription is termed as.
  • A. Under subscription
  • B. Over subscription
  • C. General subscription
  • D. Above subscription
8 The company formed by teh means of Royal Charter is called.
  • A. Public limited company
  • B. Private limited company
  • C. Charterd company
  • D. Registered company
9 Kind of company is.
  • A. 2
  • B. 3
  • C. 4
  • D. 5
10 The debentures which are repayable at the end of a specified period are termed as.
  • A. Redeemeble debentures
  • B. Irredeemable debentures
  • C. Repayable debetures
  • D. None of these

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