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 The total amount recived by the company out of the totla called up amount is known as the.
  • A. Called up capital
  • B. Paid up capital
  • C. Issued capital
  • D. Reserve capital
2 The powers of company are governed by the.
  • A. Sharehoders
  • B. Memorandum of association
  • C. Prospectus
  • D. Articles of association
3 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
4 The joint stock company is formed under companies ordiance.
  • A. 1984
  • B. 1974
  • C. 1884
  • D. 1962
5 Premium on issue of share is a.
  • A. Capital profit
  • B. Business loss
  • C. Revenue profit
  • D. Revenue loss
6 Debentures holders are.
  • A. Creditors of the company
  • B. Owners of the company
  • C. Customer of the company
  • D. None of these
7 In case of public company minimum number of members is.
  • A. Six
  • B. Seven
  • C. Ten
  • D. Fifty
8 Those debentures which carry no security as to payment of interest or repayment of principal, are known as.
  • A. Morgagage debentures
  • B. Secured debentures
  • C. Simple of naked debentures
  • 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 The dividend paid to the shareeholders duirng the financial year is.
  • A. Redeemable debentures
  • B. Irredeemable debentures
  • C. Repayable debebtures
  • D. None of these

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