12th Class ICom Part 2 Principles of Accounting Chapter Wise Online MCQ Test with answers PDF English Medium

Principles of Accounting Icom Part 2 English Medium Online Test

Sr. #	Questions	Answers Choice
1	In the absence of an agreement partners shall	Be paid salaries Not to be paid the salaries Be paid salaries by the consent of the pariners Be paid salaris to thos who worked for the firm
2	Capital of the partners are maintained under.	Fixed capital method Fluctuating method By any two of the above None of the above
3	A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.	Active partner Sleeping partner Secrete partner None of these
4	Investment in partnership is made byintroducing.	Cash Non cash assets Cash or non cash assets None of these
5	In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.	5 persent 6 persent 8 persent 9 persent
6	In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.	Capitals Profit and loss ratios Equality Time devoted by each partner
7	A partner who is newly admitted to the firm with the consent of all the parties is called.	Salaried partner Incoming partner Junior partner Minor partner
8	A partner, who hasnot attained the age of majority is called.	Junior partner Minor partner Nominal patner Quasi Partner
9	A partner does not take an acitive partner is the managment firm is called.	Active partner Sinior partner Darment of sleeping partner Nominal partner
10	A person whoinvest the minor portion of capital in the business and so he has small share in the profit is called.	Senior partner Junior partner quast partner Nominal patner
11	A paartner who have a major investment in the firm and receive a relatively more profit is called.	Sleeping partner Darment partner Senior partner Estoppels partner
12	A partner who takes an active part in the managment of the firm is called.	Active partner Sleeping partner Norminal partner Quasi partner
13	The persons who have entered in partnership are collctive called.	A firm Agents Partners Promoters
14	In partnership minimum limit of partners is.	Two (02) Five(5) Ten (10) Tweleve (12)
15	In case of banking business, the numerb of persons must not exceed.	Ten (10) Twenty (20) Tweinty five(25) Fifty (50)

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