| 1 |
Good will is |
- A. Expense
- B. Profit
- C. Assets
- D. Liability
|
| 2 |
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
|
| 3 |
Value of the good will is calculated under capitalization formula. |
- A. Average profit / reasonable return x 100
- B. Resonable return / average profit x 100
- C. Averager profit x 100 / resonable return
- D. None of these
|
| 4 |
Profit of revaluation should be credited to. |
- A. Revaluation account
- B. Liabilites accounts
- C. Old partners capital accounts
- D. Assets accounts
|
| 5 |
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
|
| 6 |
Revaluation loss should be debited to. |
- A. Revaluation account
- B. All partners capital account
- C. Old partners capital accounts
- D. New partners capital account
|
| 7 |
Sacrificing rations are equal to. |
- A. Capital Ratios- New ratios
- B. Old ratios - New ratios
- C. New ratio - old ratios
- D. None of these
|
| 8 |
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
|
| 9 |
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
|
| 10 |
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
|