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 Equity share holders are.
  • A. Creditors
  • B. Owners
  • C. Customers of the company
  • D. Debtors of the company
2 In case of private company minimum numebr of sharaeholders are.
  • A. Six
  • B. Seven
  • C. Ten
  • D. Two
3 If the price required to be paid to the company for the share is more than nominal value of that share, it is called.
  • A. At discount
  • B. At premium
  • C. At par
  • D. None of these
4 Interest on dividend is paid.
  • A. At the end of financial period
  • B. During the fiancancial year
  • C. At the time of incorporation
  • D. At the time of winding of company
5 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
6 The sum total of the nominal vaue of shares of company is called is.
  • A. Issued capital
  • B. Subscribed capital
  • C. Share capital
  • D. Called up capital
7 premium on issue of shares is shown in.
  • A. Assets side of balance sheet
  • B. Liabilities side of balance sheet
  • C. Trading account
  • D. Profit and loss account
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 profit earned prior to the date of incorporatin is.
  • A. Revenue profit
  • B. Capital profit
  • C. Capital gain
  • D. Revenue gain
10 A prospectus for subscription of shares can be issued only by.
  • A. Public company
  • B. A private company
  • C. Both public and private company
  • D. None of these

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