| 1 |
In case of retirement, when goodwill is raised with retiring partner's share but written off is credited to: |
- A. Retiring partners capital A/c
- B. Cash A/c
- C. Goodwill A/c
- D. Remaining partners capital A/c
|
| 2 |
In case of retirement, revaluation loss should be debited to: |
- A. Retiring partner's capital A/c
- B. Remaining partners capital A/c
- C. All partners capital A/c
- D. Revaluation A/c
|
| 3 |
In case of retirement, when goodwill is raised but written off is credited to: |
- A. Retiring partners capital A/c
- B. Remaining partners capital A/c
- C. All partners capital A/c
- D. Goodwill A/c
|
| 4 |
Suppose A, B & C are partners, sharing profits in the ratio of 1/2,3/10,2/10 respectively, What will be the new ratio if B retires and his share is taken up by A and C in the ratio of 2:1. |
- A. 5 : 3
- B. 5 : 7
- C. 7 : 3
- D. 10 : 3
|
| 5 |
On retirement of a partner, the share of retiring partner is taken by |
- A. New partner
- B. Remaining Partners
- C. Government
- D. Legal representatives of retiring partner
|
| 6 |
In case of retirement funds for payment may be provided out of |
- A. Firm's own resources
- B. Borrowing by the firm
- C. Additional funds may be bought in by continuing partners
- D. All of the above
|
| 7 |
In case of retirement, goodwill raised with retiring partners share but written off to remaining partners in the: |
- A. Gaining ratio
- B. Sacrifice ratio
- C. New ratio
- D. Capital ratio
|
| 8 |
On retirement of a partner in partnership it is necessary to calculate |
- A. New profit sharing ratio
- B. Goodwill
- C. Revaluation of assets and liabilities
- D. All of these
|
| 9 |
Gaining ratio is calculated on: |
- A. Admission
- B. Retirement
- C. Death
- D. 'b' & 'c'
|
| 10 |
Retirement of a partner dissolves |
- A. Partnership
- B. Firm
- C. Business
- D. "b" & "c"
|
