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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
In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.
Question # 2
Current accout of the partners should be opened when the capitals are.
Question # 3
Interest on drawing is debited to.
Question # 4
The owner of the partnership are called as.
Question # 5
Investment in partnership is made byintroducing.
Question # 6
The agreement among the partners which sets out the term is which they have agreed to form a partnership is called.
Question # 7
If some proparty is owned jointly with out any attention to carry on a business it is called.
Question # 8
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 # 9
A partner who is newly admitted to the firm with the consent of all the parties is called.
Question # 10
In partnership minimum limit of partners is.
Question # 11
Maximum numebr of the partners in an ordinary Partinership.
Question # 12
Registraion of the firm.
Question # 13
Partnership is formed under the act of.
Question # 14
The investment in partners capital accounts is to be credited to.
Question # 15
A partner who takes an active part in the managment of the firm is called.
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 | 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
|
| 2 | The investment in partners capital accounts is to be credited to. |
A. Partners capital accounts
B. Profit and loss account
C. Interest account
D. None of these
|
| 3 | The owner of the partnership are called as. |
A. Member
B. Partners
C. Share holder
D. None of these
|
| 4 | 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
|
| 5 | 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
|
| 6 | 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
|
| 7 | 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
|
| 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 | 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
|
| 10 | The persons who have entered in partnership are collctive called. |
A. A firm
B. Agents
C. Partners
D. Promoters
|
Test Questions