Question # 1

Profit on revalutin is to be caredited to old partners in their

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Sacrificing ratio

New profit shiaring ratio

Old prift sharing ratio

Equal prift sharing ratio

A partner who is newly admitted to the firm with the consent of all the parties is called.

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Salaried partner

Incoming partner

Junior partner

Minor partner

When a new partner is admitted with out the consent of the old partner.

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Partnership will be dissolved

Will value

Agreed value

None of these

The retired is one who has

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Died

Withdraw his capital

Bought his capital

Decreases his capital

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.

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At discount

At primium

At par

None of these

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

None of these

The person who take the initaiative in the matter of formation of a company are known as the.

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Promoters

Share holder

Director

Registered

Under annuity method the amount of depreciation is.

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Increasing every year

Decreasing every year

Fixed for all the year

None of these

Maximum numebr of the partners in an ordinary Partinership.

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Ten partners

Twentry partners

Thirty partners

Fourth partners

The asses which have physical existence are called.

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Intangible assets

Intangible fixed assets

Tangible fixed assets

Both tangible or intangible assets

Admission fee income should be.

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Treated as income

Capitalized

Proportionate to revenue and capitalized

None of these

The depreciation charged to motor car account will be debited to.

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Depreciation account

Motor car account

Cash account

None of these

Commission due to the consignee is calculated on.

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Credit sales only

Cash sales only

Total sales

None of these

In single entry it is not possible to prepare

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Trial balance

Trading account

Profit and loss account

Balance sheet

On the detah of the partner the amount of the joint policy credited to the capital account of.

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Remaining partners capital account

All partners capital accounts

Deceased parners capital account

None of these

Capital of the partners are maintained under.

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Fixed capital method

Fluctuating method

By any two of the above

None of the above

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