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Class 12 Accountancy Chapter 1 Accounting For Partnership Firms Fundamentals Quiz 3 (11 MCQs)

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1. Z is a partner firm. he withdrew regularly rupees 2000 per month for six months ending 31st March 2016 if interest on drawing is charge @ 8% per annum the interest charged will be
2. If equal amount is withdrawn by partner in the beginning of each month during a month of 6 months interest on the total amount will be charged for ..... month
3. Liability of partner is:
4. A Partnership firm has four partners. How many additional partners can be admitted into the business as per the provisions of Companies Act, 2013?
5. If Goodwill is Rs. 1, 20, 000, Average Profit is Rs. 60, 000 Normal. Rate of Return is10% on Capital Employed Rs. 4, 80, 000. Calculate capitalized value of the firm:-
6. A and B are partner's sharing profit equally. A draw regularly Rs. 4, 000 at the end of every month for 6 months. Year ended on 30thSeptember 2018, calculate interest on drawings @ rate 5% p.a.
7. The relation of partner with the firm is that of:
8. Which of the following items will not appear in a Partners fixed capital A/c?
9. Yash, a partner withdraws a fixed amount in the beginning of every month for the first six months of the year 2019-20. What will be the average period for calculation of interest on drawings?
10. Interest payable on the capitals of the partners is charged to
11. Convertible Debentures are:
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