ICOM Part 2 English Medium Principles of Accounting Chapter 6 MCQ's Test

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12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 6 (Partnership Accounts Profit Distribution)

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

Try the Principles of Accounting Icom Part 2 English Medium Chapter 6 Online Test.

  • Total Questions15

  • Time Allowed20

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Principles of Accounting Icom Part 2 English Medium Chapter 6 Online Test (MCQs With Answers)

Sr. # Questions Answers Choice
1 If the good will raised at the time of retirement of a partner is to be written off, then the capital accounts of the remaiing partners are debited in. Capital ratio Old profit sharing ratio New profit shiaring ratio None of these
2 The credit balance of retiring partner capital account if not paid in cash should be tranferred to. Retiring partners loan account Retiring partners capital account Old partner capital account None of these
3 Partner's capital are affected due to. Admission of a partner Retirement of the partner Death of a partner All of the above
4 In case of retirement when the good will raised with retiring partner written off among the remaining partner. In gaiing ratios Sacrifing ratios Capital ratios New ratio
5 Gaining ratios are equal to. New Ratio - Old ratio Old ratio- New ratio New Ratio + old ratios Capital ratios- New Ratios
6 The profit on the revaluation of the assets and liabilities o the retirement of the partner should be credited to. All partners capital accounts Only retiring partners capitals accounts Remaiingng partners capital account None of these
7 The gaining ratio are calculated on. Admissionof a partner Death of a partner Retirement of a partner None of these
8 The amount payable to the retiring partner is shown in the balance sheet of partnership as. Capital Loan Investment Assets
9 The which is calculated at the time of retirment of partner is Gaining ratio Serching ratio Capita ratio New ratio
10 Amount of to the out going partner is shown in the balance sheet as his. Liability Loan Capital Assets
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