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 less than the nominal value of that share, it is called shares.
  • A. At discount
  • B. At primium
  • C. At par
  • D. None of these
2 The value of the share as quoted on the stock exchange is said to be
  • A. Par value
  • B. Book value
  • C. Cost value
  • D. Market value
3 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
4 The loss prior to the date of incorporation of a company is.
  • A. Revenue loss
  • B. Capital loss
  • C. Liability
  • D. None of these
5 The profit earned prior to the date of incorporatin is.
  • A. Revenue profit
  • B. Capital profit
  • C. Capital gain
  • D. Revenue gain
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 owner wquity in a company is commonly called.
  • A. Shareholder equity
  • B. promotors equity
  • C. Directors equity
  • D. None of these
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 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
10 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

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