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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 The powers of company are governed by the.
  • A. Sharehoders
  • B. Memorandum of association
  • C. Prospectus
  • D. Articles of association
2 Joint stock company is an Artificaial person created by
  • A. Law
  • B. Federal Govt
  • C. Registrar
  • D. Employees
3 A prospectus for subscription of shares can be issued only by.
  • A. Public company
  • B. A private company
  • C. Both public and private company
  • D. None of these
4 The person who take the initaiative in the matter of formation of a company are known as the.
  • A. Promoters
  • B. Share holder
  • C. Director
  • D. Registered
5 The shares of public limited company are.
  • A. Not refundable
  • B. Not tanserable
  • C. Transferable
  • D. No allotable
6 The face value of the share is also known as.
  • A. Book value
  • B. Par value
  • C. Market value
  • D. None of these
7 The credit balacne of the retained earnings statement represents.
  • A. Undisturbed Profit
  • B. Divided declared
  • C. Profit distributed
  • D. None of these
8 If the price required to be paid to the company for the share is more than nominal value of that share, it is called.
  • A. At discount
  • B. At premium
  • C. At par
  • D. None of these
9 The documents which contains the rules and regulation for the internal management of the company is called.
  • A. Prospectus
  • B. Articles of assocaition
  • C. Memorandum of association
  • D. Notice
10 A situation where a company receives more application than actual number of shares offered to the public for subscriptions is termed as.
  • A. Oversubscription
  • B. Udner subscription
  • C. No subscripition
  • D. None of these

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 8 Online Test

H

Hamza Abid

Abbottabad28 - Jun - 2022

11/15
10 Mins 50 Sec
M

Maria Mughal

Lahore29 - Jun - 2022

9/15
01 Mins 54 Sec

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