| 1 |
Revaluation loss should be debited to. |
- A. Revaluation account
- B. All partners capital account
- C. Old partners capital accounts
- D. New partners capital account
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| 2 |
If the goods will raised at the tim e of admissionof a new partner will be written off in. |
- A. Old prifit sharing ratios
- B. Capitals ratios
- C. New profit - Old ratios
- D. Sacrificing ratios
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| 3 |
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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| 4 |
Good will is. |
- A. Tangible asset
- B. Imtamgon;e asset
- C. Wasting assets
- D. Frictious assets
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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 |
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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| 7 |
Profit of revaluation should be credited to. |
- A. Revaluation account
- B. Liabilites accounts
- C. Old partners capital accounts
- D. Assets accounts
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| 8 |
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
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| 9 |
Revaluation account is a. |
- A. Real account
- B. Personal account
- C. Cash account
- D. Nominal account
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| 10 |
The balance of revaluation accoun tis transferred to the old partners capital accounts in their. |
- A. Sacrificing ratio
- B. Old profit shairng ratio
- C. New profit sharing ratio
- D. Equal profit shairng ratio
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