Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test

  • Medium English
  • Available questions20
  • Chapter Name5
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Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test

  • Total Questions15

  • Time Allowed20

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Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test

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Question # 1

When the incoming partner pays the firm for good willin cash the amount should be debited to firms books to.

Question # 2

Revaluation account is a.

Question # 3

The extra amount charged fromt he new partner over and above the capital is for.

Question # 4

When a new partner is admitted with out the consent of the old partner.

Question # 5

If the goods will raised at the tim e of admissionof a new partner will be written off in.

Question # 6

Good will is.

Question # 7

In the absence of an agreement, the share of new partner in patnership will be.

Question # 8

Value of the good will is calculated under capitalization formula.

Question # 9

Old prifit sharing ratio minus new profit sharing ratio is equal for.

Question # 10

Profit of revaluation should be credited to.

Question # 11

General reserve at the time of admission of anew partner is credited.

Question # 12

Profit on revalutin is to be caredited to old partners in their

Question # 13

Sacrificing rations are equal to.

Question # 14

A new partner may be admitted to a partnership.

Question # 15

The amount of good will broght in cash by nw partner will be credited to old partner in.

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