Admission of a Partner

Quiz
•
Other
•
12th Grade
•
Hard
Kajal Thakur
Used 6+ times
FREE Resource
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. Anju and Eeshan are two partners sharing profits and losses in the ratio of 3:2. They decided to admit Aaroh for 1/5th share, the new Profit-sharing ratio will be______.
12:8:5
4:3:1
12:8:1
12:3:1
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. Excess of Proportionate capital over actual capital represents_________.
Equal Capital
Surplus Capital
Deficit Capital
Gain
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. _______is credited when the unrecorded asset is brought into the business.
Revaluation Account
Balance sheet
Trading Account
Partners Capital Account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. When goodwill is withdrawn by the partner_______ account is debited.
Revaluation
Cash/Bank
Current
5.
MULTIPLE CHOICE QUESTION
30 sec • Ungraded
5.New partners can bring capital in cash or kind.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. If Asset is taken over by the partner_______ account is debited.
Revaluation
Capital
Assets
Balance Sheet
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the Odd one.
General reserve
Creditors
Machinery
Capital
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