| 1 |
General reserve at the time of admission of anew partner is credited. |
- A. New partner capital account
- B. General reserve account
- C. Old parners capital account
- D. All partners capital account
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| 2 |
Good will is. |
- A. Tangible asset
- B. Imtamgon;e asset
- C. Wasting assets
- D. Frictious assets
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| 3 |
Profit on revalutin is to be caredited to old partners in their |
- A. Sacrificing ratio
- B. New profit shiaring ratio
- C. Old prift sharing ratio
- D. Equal prift sharing ratio
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| 4 |
When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to. |
- A. Good will accounts
- B. Cash Account
- C. Capital account of the incoming partner
- D. All of the above
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| 5 |
When a new partner is admitted with out the consent of the old partner. |
- A. Partnership will be dissolved
- B. Will value
- C. Agreed value
- D. None of these
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| 6 |
On the addimissionof a new partner the increase int he value of assets is debited |
- A. Revaluation account
- B. Assets account
- C. Old partners capital account
- D. New partners capital account
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| 7 |
The amount of good will broght in cash by nw partner will be credited to old partner in. |
- A. Gaining Ratio
- B. New Ratio
- C. Old Ratio
- D. Sacrifice Ratio
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| 8 |
In the absence of an agreement, the share of new partner in patnership will be. |
- A. In the portion of capital
- B. Equal
- C. According to work
- D. None of the above
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| 9 |
A new partner may be admitted to a partnership. |
- A. With the consent of all the partners
- B. With the consent of any one of the partners
- C. With consent of two third the old partners
- D. Without the consent of old partners
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| 10 |
Profit of revaluation should be credited to. |
- A. Revaluation account
- B. Liabilites accounts
- C. Old partners capital accounts
- D. Assets accounts
|