12th Principles of Accounting Chapter 6 Test

Here you can prepare 12th Class Principles of Accounting Chapter 6 Partnership Accounts Profit Distribution Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 6 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 6 (Partnership Accounts Profit Distribution)

This online test contains MCQs about following topics:

. Essentials of Partnership . Rules Applicable in the Absence of an Agreement . Final Accounts of Partnership . Distribution of Profits . Fixed and Fluctuating Capitals

ICOM Part 2 Accounting Ch 6 Test
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12th class Principle of Accounting chapter 6 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 6 (Partnership Accounts Profit Distribution)

Sr. # Questions Answers Choice
1 The credit balance of retiring partner capital account if not paid in cash should be tranferred to.
  • A. Retiring partners loan account
  • B. Retiring partners capital account
  • C. Old partner capital account
  • D. None of these
2 Gaining ratios are equal to.
  • A. New Ratio - Old ratio
  • B. Old ratio- New ratio
  • C. New Ratio + old ratios
  • D. Capital ratios- New Ratios
3 Partner's capital are affected due to.
  • A. Admission of a partner
  • B. Retirement of the partner
  • C. Death of a partner
  • D. All of the above
4 The profit on the revaluation of the assets and liabilities o the retirement of the partner should be credited to.
  • A. All partners capital accounts
  • B. Only retiring partners capitals accounts
  • C. Remaiingng partners capital account
  • D. None of these
5 Amount due to the deceased partner is generally transferred to
  • A. Executor's loan
  • B. Profit and loss accounts
  • C. Capital account
  • D. None of thess
6 The gaining ratio are calculated on.
  • A. Admissionof a partner
  • B. Death of a partner
  • C. Retirement of a partner
  • D. None of these
7 The amount payable to the retiring partner is shown in the balance sheet of partnership as.
  • A. Capital
  • B. Loan
  • C. Investment
  • D. Assets
8 On the detah of the partner the amount of the joint policy credited to the capital account of.
  • A. Remaining partners capital account
  • B. All partners capital accounts
  • C. Deceased parners capital account
  • D. None of these
9 In case of retirement when the good will raised with retiring partner written off among the remaining partner.
  • A. In gaiing ratios
  • B. Sacrifing ratios
  • C. Capital ratios
  • D. New ratio
10 In case of retirement the amount of the general reserve any other profit is credited to all partners in.
  • A. Sacrificing Ratios
  • B. New profit sharing ratios
  • C. Old prift sharing ratios
  • D. Gaining ratios

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 6 Online Test

K

Kaamir Instruments

Lahore03 - Mar - 2025

8/15
03 Mins 53 Sec
K

Kaamir Instruments

Lahore01 - Mar - 2025

8/15
04 Mins 31 Sec

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