12th Principles of Accounting Chapter 9 Test

Here you can prepare 12th Class Principles of Accounting Chapter 9 Partnership Accounts Dissolution of the Firm Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 9 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 9 (Partnership Accounts Dissolution of the Firm)

This online test contains MCQs about following topics:

. Distinction between Dissolution of Partnership and Dissolution of Firm . Modes of Dissolution of a firm . Settlement of Accounts on Dissolution . Preparation of Realisation Account . Dissolution of Firm when all the Partners are Solvent . Dissolution of Firm when on Partner is Insolvent . Dissolution of Firm when all the Partners are Insolvent . Gradual Relization of Assets and piecemeal Distribution

ICOM Part 2 Accounting Ch 9 Test
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12th class Principle of Accounting chapter 9 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 9 (Partnership Accounts Dissolution of the Firm)

Sr. # Questions Answers Choice
1 Under diminhing balance method, depreciationis calculated on.
  • A. The original cost
  • B. The scrape value
  • C. Book value
  • D. All of the above
2 Another name of diminishing balance method of depreciation is the
  • A. Reducing balance method
  • B. Sinking fund method
  • C. Straight line mehod
  • D. Revaluation method
3 Under annuity method the amount of depreciation is.
  • A. Increasing every year
  • B. Decreasing every year
  • C. Fixed for all the year
  • D. None of these
4 The objective of charging depreciation on fixed assets is.
  • A. Calculate the true net profit
  • B. To provide funds for the replacement
  • C. To redue the tax libility
  • D. All of the above
5 Depreciation caused by some external amoutn of anual depreciation gradully.
  • A. Increase
  • B. Decrease
  • C. Remain constant
  • D. None of these
6 The method is specially suited to natural surces is said to be
  • A. Annuity method
  • B. Depletion method
  • C. Revalution method
  • D. Sum of digit method
7 The gradual decrease in the value of the fixex assets due to its use in the business is called.
  • A. Depreciation
  • B. Depletion
  • C. Amorization
  • D. Fluctuation
8 Depreciation arise because of
  • A. Due to fall in the market value of fixex assets
  • B. Due to physical wear and tear of the assets
  • C. Due to fall in the market value
  • D. None of these
9 The term Depletion is used with reference to.
  • A. Tangible assets
  • B. Intangible assets
  • C. Current assets
  • D. Fixex assets
10 The assets which have not got physical existence are called.
  • A. Intangible assets
  • B. Intangible fixed assets
  • C. Current assets
  • D. Tangible fixed assets

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