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 Share capital int he balance sheet is known as.
  • A. Asset
  • B. Liability
  • C. Income
  • D. Reserve
2 In case of public company minimum number of members is.
  • A. Six
  • B. Seven
  • C. Ten
  • D. Fifty
3 Ordinary shares are also known as.
  • A. Equity shares
  • B. Deffered shares
  • C. Bonus shares
  • D. Preference shares
4 The dividend paid to the shareeholders duirng the financial year is.
  • A. Redeemable debentures
  • B. Irredeemable debentures
  • C. Repayable debebtures
  • D. None of these
5 Equity share holders are.
  • A. Creditors
  • B. Owners
  • C. Customers of the company
  • D. Debtors of the company
6 Normaly the discount on the shares should not exceed from
  • A. Five percent
  • B. Eight percent
  • C. Twenty percent
  • D. Ten percent
7 The debentures which are payable to bearere, are termed as.
  • A. None transfereble
  • B. Registered debentures
  • C. Bearer debentures
  • D. Non - bearere debentures
8 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
9 The amount of share capital which a company is authroxzed to raise is called.
  • A. Subscribed capital
  • B. Issued capital
  • C. Authorized capital
  • D. Paid up capital
10 The person who take the initaiative in the matter of formation of a company are known as the.
  • A. Promoters
  • B. Share holder
  • C. Director
  • D. Registered

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