| 1 |
In case of los on revaluation of assets and liabilities should be debited to. |
- A. Retiring partners capital accounts
- B. All partners capital accounts
- C. Remaining patners capitala account
- D. None of these
|
| 2 |
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
|
| 3 |
Joint life policy account after the maturity of the policy shoul dbe transferred to the capital accounts of the partners in. |
- A. Capital ratios
- B. Old profit sharing ratios
- C. New profit sharing ratio
- D. Gaining ratios
|
| 4 |
Amount of to the out going partner is shown in the balance sheet as his. |
- A. Liability
- B. Loan
- C. Capital
- D. Assets
|
| 5 |
The amount payable to the retiring partner is shown in the balance sheet of partnership as. |
- A. Capital
- B. Loan
- C. Investment
- D. Assets
|
| 6 |
A partner goes out of a firm due to certain event or reason is known as. |
- A. Retired or out going partner
- B. Junior partner
- C. Senior partner
- D. Minor partner
|
| 7 |
In case of retirement of a partners full good will is credited to the account of. |
- A. Only retring partner
- B. Only remaining partners
- C. All partners
- D. None of these
|
| 8 |
Profit and loss on revalution at the time of retirement must be transerred to the partners in. |
- A. Capital ratio
- B. Old prifit sharing ratio
- C. New profit sharing ratio
- D. Gaining ratio
|
| 9 |
The gaining ratio are calculated on. |
- A. Admissionof a partner
- B. Death of a partner
- C. Retirement of a partner
- D. None of these
|
| 10 |
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
|
