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 In case of private company minimum numebr of sharaeholders are.
  • A. Six
  • B. Seven
  • C. Ten
  • D. Two
2 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
3 Dividend is calculated on.
  • A. Registered capital
  • B. Issue Capital
  • C. Paid up Capital
  • D. Subscribed Capital
4 A person who purchases the share of the company becomes its.
  • A. Share holder
  • B. Debenture holder
  • C. Under writer
  • D. Promoter
5 A situation where a company receives more application than actual number of shares offered to the public for subscriptions is termed as.
  • A. Oversubscription
  • B. Udner subscription
  • C. No subscripition
  • D. None of these
6 A company in which memebr gives a guarantee to contribute a specified sum to the company of its being wound up is called.
  • A. Limited company
  • B. Un limited company
  • C. Company limited by guarantee
  • D. Chartered company
7 Ordinary shares are also known as.
  • A. Equity shares
  • B. Deffered shares
  • C. Bonus shares
  • D. Preference shares
8 A certificat issue by the company under its seal acknowledging a debt due by it to its holder, is called.
  • A. Debenture
  • B. Certificate of commencement
  • C. Acknowledge certificate
  • D. Noen of these
9 Registered company is
  • A. 2
  • B. 3
  • C. 4
  • D. 5
10 The maximum number of member in case of public limited company can be
  • A. Forty
  • B. Fifty
  • C. Sixty
  • D. No restriction on maximum number

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