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 Depreciation caused by some external amoutn of anual depreciation gradully.
  • A. Increase
  • B. Decrease
  • C. Remain constant
  • D. None of these
2 Depreciation is charged at fixex rate on the reducing balance, under the.
  • A. Written - down value method
  • B. Annuity method
  • C. Sinking fund method
  • D. Depletion method
3 Interest is debited to assets account uder the.
  • A. Annuity method
  • B. Depreciation fund method
  • C. Insurance policy method
  • D. Depletion method
4 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
5 Which of the following term is used for the depreciation of wasting assets such as timber tree, mines, oil wells etc.
  • A. Depreciation
  • B. Depletion
  • C. Amortization
  • D. None of these
6 Depreciation is
  • A. An Income
  • B. An expense
  • C. A loss
  • D. A liability
7 The amount charged to depreciation goes on declining in.
  • A. Diminishing balance method
  • B. Fixex instaliment method
  • C. Annuity method
  • D. Depreciation fund method
8 Under the straight line method of charging depreciation, the amount of deperciation .
  • A. Decrease every year
  • B. Increase every year
  • C. <div>Remain constant every year</div>
  • D. None of the above
9 Under diminhing balance method, depreciationis calculated on.
  • A. The original cost
  • B. The scrape value
  • C. Book value
  • D. All of the above
10 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

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