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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
A partner, who hasnot attained the age of majority is called.
Question # 2
A partner who is newly admitted to the firm with the consent of all the parties is called.
Question # 3
A paartner who have a major investment in the firm and receive a relatively more profit is called.
Question # 4
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.
Question # 5
Capital of the partners are maintained under.
Question # 6
The investment in partners capital accounts is to be credited to.
Question # 7
Registraion of the firm.
Question # 8
The persons who have entered two partnership are individually called.
Question # 9
Partnership is formed by the partners.
Question # 10
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.
Question # 11
In the absence of an agreement partners shall
Question # 12
In case of banking business, the numerb of persons must not exceed.
Question # 13
Current accout of the partners should be opened when the capitals are.
Question # 14
If some proparty is owned jointly with out any attention to carry on a business it is called.
Question # 15
Liability of the partners in partnership is.
ICOM Part 2 English Medium Principles of Accounting Chapter 4 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test" MCQ`s Test
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F Fazilat Official 05 - Dec - 2025 01 Min 02 Sec 15/15 -
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 -
Z Zainab Malik 02 - Jun - 2026 02 Min 08 Sec 15/15 -
Y youth flavour 14 - Dec - 2024 03 Min 18 Sec 15/15 -
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S Shantul Gabol 10 - Dec - 2023 03 Min 07 Sec 14/15 -
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Z Zafar Ali 07 - Jun - 2024 00 Min 30 Sec 11/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Partnership is formed by the partners. |
A. Written agreement
B. Mutual consent
C. Verbal agreement
D. None of these
|
| 2 | 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
|
| 3 | A paatner who invests capital inthe business but does not take active part in the conduct of the business is called. |
A. Active partner
B. Sleeping partner
C. Secrete partner
D. None of these
|
| 4 | In the absence of an agreement partners shall |
A. Be paid salaries
B. Not to be paid the salaries
C. Be paid salaries by the consent of the pariners
D. Be paid salaris to thos who worked for the firm
|
| 5 | A partner who takes an active part in the managment of the firm is called. |
A. Active partner
B. Sleeping partner
C. Norminal partner
D. Quasi partner
|
| 6 | 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
|
| 7 | 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
|
| 8 | A person whoinvest the minor portion of capital in the business and so he has small share in the profit is called. |
A. Senior partner
B. Junior partner
C. quast partner
D. Nominal patner
|
| 9 | For the firm, interest on drawing is. |
A. Expense
B. Income
C. Liability
D. None of these
|
| 10 | The owner of the partnership are called as. |
A. Member
B. Partners
C. Share holder
D. None of these
|
Test Questions