12th Principles of Accounting Chapter 8 Test

Here you can prepare 12th Class Principles of Accounting Chapter 8 Partnership Accounts-Retirement and Death Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 8 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 8 (Partnership Accounts-Retirement and Death)

This online test contains MCQs about following topics:

. Retirement of a Partner . Accounting Problems of Retirement . Change in Profits Sharing ratio on Retirement . Distinction between Gaining and Sacrificing ratio . Death of a Partner . Calculation od Deceased's Share of Profit . Joint Life Policy and its Accounting Treatment

ICOM Part 2 Accounting Ch 8 Test
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12th class Principle of Accounting chapter 8 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 8 (Partnership Accounts-Retirement and Death)

Sr. # Questions Answers Choice
1 If the price required to be paid to the company for the share is equal to the nominal value of that share it is called.
  • A. At discount
  • B. At premium
  • C. At par
  • D. None of these
2 A company comes into existence when the registrar issue the
  • A. Prospectus
  • B. Certificate of incorporation
  • C. statement in Lieu of prospectus
  • D. Companies ordinance
3 Unclaimed dividend is shown as.
  • A. Asset
  • B. Liability
  • C. Deduction from paid up capital
  • D. None of these
4 The debentures which does not carry any charges o the assets of the company.
  • A. Simple debentures
  • B. Mortagage debentures
  • C. Redeemable debentures
  • D. None of these
5 The rules and regulation foverning the internal management and administration of the company are called.
  • A. Memorandum of assocaition
  • B. Articles of association
  • C. Prospectus
  • D. None of these
6 The part of the issued capital which has been taken up or subscribed by the public is called
  • A. Issued capital
  • B. Authorized capital
  • C. Subscribed capital
  • D. Paid up capital
7 The toal amount of capital, in case of company is divided into small units, these units are called.
  • A. Bonds
  • B. Cheque
  • C. Share
  • D. Reserve
8 The face value of the share is also known as.
  • A. Book value
  • B. Par value
  • C. Market value
  • D. None of these
9 The debentures which are repayable at the end of a specified period are termed as.
  • A. Redeemeble debentures
  • B. Irredeemable debentures
  • C. Repayable debetures
  • D. None of these
10 Premium on issue of share is a.
  • A. Capital profit
  • B. Business loss
  • C. Revenue profit
  • D. Revenue loss

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