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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
Liability of the partners in partnership is.
Question # 2
In case of banking business, the numerb of persons must not exceed.
Question # 3
In partnership minimum limit of partners is.
Question # 4
A paartner who have a major investment in the firm and receive a relatively more profit is called.
Question # 5
A partner who is newly admitted to the firm with the consent of all the parties is called.
Question # 6
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.
Question # 7
The persons who have entered in partnership are collctive called.
Question # 8
The owner of the partnership are called as.
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 under the act of.
Question # 11
In the absence of an agreement partners shall
Question # 12
Maximum numebr of the partners in an ordinary Partinership.
Question # 13
A partner, who hasnot attained the age of majority is called.
Question # 14
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.
Question # 15
Partnership is formed by the partners.
ICOM Part 2 English Medium Principles of Accounting Chapter 4 MCQ's Test
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Interest on drawing is debited to. |
A. Partners capital accounts
B. Profit and loss account
C. Interest account
D. None of these
|
| 2 | Maximum numebr of the partners in an ordinary Partinership. |
A. Ten partners
B. Twentry partners
C. Thirty partners
D. Fourth partners
|
| 3 | In partnership minimum limit of partners is. |
A. Two (02)
B. Five(5)
C. Ten (10)
D. Tweleve (12)
|
| 4 | If some proparty is owned jointly with out any attention to carry on a business it is called. |
A. Partnership
B. Co- ownership
C. Sole ownership
D. Agency
|
| 5 | In case of banking business, the numerb of persons must not exceed. |
A. Ten (10)
B. Twenty (20)
C. Tweinty five(25)
D. Fifty (50)
|
| 6 | Partnership is formed under the act of. |
A. 1984
B. 1932
C. 1912
D. 1962
|
| 7 | Capital of the partners are maintained under. |
A. Fixed capital method
B. Fluctuating method
C. By any two of the above
D. None of the above
|
| 8 | A partner, who hasnot attained the age of majority is called. |
A. Junior partner
B. Minor partner
C. Nominal patner
D. Quasi Partner
|
| 9 | Current accout of the partners should be opened when the capitals are. |
A. Fluctuating
B. Fixed
C. Either fixed or fluctuating
D. Neither fixed or fluctuating
|
| 10 | A partner does not take an acitive partner is the managment firm is called. |
A. Active partner
B. Sinior partner
C. Darment of sleeping partner
D. Nominal partner
|
Test Questions