ICOM Part 2 English Medium Principles of Accounting Chapter 4 MCQ's Test

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12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 4 (Accounts of Join Stock Companies)

Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test

Try the Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test.

  • Total Questions15

  • Time Allowed20

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Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test (MCQs With Answers)

Sr. # Questions Answers Choice
1 In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of. Capitals Profit and loss ratios Equality Time devoted by each partner
2 Partnership is formed under the act of. 1984 1932 1912 1962
3 The persons who have entered in partnership are collctive called. A firm Agents Partners Promoters
4 Liability of the partners in partnership is. Limited Unlimited Limited up to the extent of their capitals Depend on the will of the partners
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. Fluctuating capitals Fixed capitals Current capitals None of these
6 A partner who takes an active part in the managment of the firm is called. Active partner Sleeping partner Norminal partner Quasi partner
7 In the absence of an agreement partners shall Be paid salaries Not to be paid the salaries Be paid salaries by the consent of the pariners Be paid salaris to thos who worked for the firm
8 The persons who have entered two partnership are individually called. Agents Partners A firm Vendor
9 Interest on drawing is debited to. Partners capital accounts Profit and loss account Interest account None of these
10 The agreement among the partners which sets out the term is which they have agreed to form a partnership is called. Partnership deed Aribtrartio clause Partnership at will None of these