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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test
00:00
Question # 1
Current accout of the partners should be opened when the capitals are.
Question # 2
A paartner who have a major investment in the firm and receive a relatively more profit is called.
Question # 3
Maximum numebr of the partners in an ordinary Partinership.
Question # 4
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.
Question # 5
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.
Question # 6
Registraion of the firm.
Question # 7
In case of banking business, the numerb of persons must not exceed.
Question # 8
The persons who have entered two partnership are individually called.
Question # 9
When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called.
Question # 10
Partnership is formed by the partners.
Question # 11
A partner does not take an acitive partner is the managment firm is called.
Question # 12
The agreement among the partners which sets out the term is which they have agreed to form a partnership is called.
Question # 13
Interest on drawing is debited to.
Question # 14
For the firm, interest on drawing is.
Question # 15
In partnership minimum limit of partners is.
ICOM Part 2 English Medium Principles of Accounting Chapter 4 MCQ's Test
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M Malaika MA 03 - Aug - 2024 01 Min 23 Sec 15/15 -
S Subtain Ahmed Raza 15 - Jul - 2023 01 Min 47 Sec 15/15 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of. |
A. 5 persent
B. 6 persent
C. 8 persent
D. 9 persent
|
| 2 | The persons who have entered in partnership are collctive called. |
A. A firm
B. Agents
C. Partners
D. Promoters
|
| 3 | Registraion of the firm. |
A. It is legally necessary
B. It is optional
C. It depends on the will of the partners
D. It depends uopon the will of theemployee
|
| 4 | In partnership minimum limit of partners is. |
A. Two (02)
B. Five(5)
C. Ten (10)
D. Tweleve (12)
|
| 5 | When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called. |
A. Fluctuating capitals
B. Fixed capitals
C. Current capitals
D. None of these
|
| 6 | Liability of the partners in partnership is. |
A. Limited
B. Unlimited
C. Limited up to the extent of their capitals
D. Depend on the will of the partners
|
| 7 | For the firm, interest on drawing is. |
A. Expense
B. Income
C. Liability
D. None of these
|
| 8 | Current accoujts of the partners should be opened when the capital are. |
A. Fixed
B. Fluctuating
C. Either fixed or fluctuating
D. None of these
|
| 9 | A partner who is newly admitted to the firm with the consent of all the parties is called. |
A. Salaried partner
B. Incoming partner
C. Junior partner
D. Minor partner
|
| 10 | A paartner who have a major investment in the firm and receive a relatively more profit is called. |
A. Sleeping partner
B. Darment partner
C. Senior partner
D. Estoppels partner
|
Test Questions