Global MCQ Practice

🌐 Total MCQ
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Class 12 Accountancy Chapter 2 Accounting For Partnership Firms Admission Of A Partner Quiz 2 (25 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. A, B and C are partners sharing in the ratio of 5:4:3. They admit D for 17th share. It is agreed that B would retain his original share. Sacrificing ratio will be:
2. In case of fixed capital, undistributed profits, general reserves, etc, are transferred to
3. Rohit and Mohit are partners with a ratio of 5:3. They admit biru with 1/7 share of profit. The new profit sharing ratio is 4:2:1. Calculate the sacrifice ratio
4. SACRIFICING RATIO IS CALCULATED TO DISTRIBUTE THE AMOUNT OF PREMIUM BETWEEN OLD PARTNERS
5. Anita and Babita are partners sharing profits and losses as 3:2. Chandani is admitted and profit sharing ratio becomes 4:3:2. Goodwill is valued at ₹ 94, 500. Chandani brings required goodwill in cash. Goodwill amount that will be credited by Chandani is:
6. Excess of Proportionate capital over actual capital represents .....
7. When goodwill is withdrawn by the partner ..... account is debited.
8. A and B are partners in a firm sharing profits and losses in the ratio of 2:3. C is admitted for 1/5 share in the profits of the firm. If C gets it wholly from A, the new profit sharing ratio after C's admission will be:
9. The Need of revaluation of assets and liabilities on admission
10. X and Y are partners sharing profits and losses in the ratio of 3:2. Z is admitted for 1/5th share in profits which he gets from X. New profit sharing ratio will be
11. A new partner may be admitted into a partnership:
12. Workmen compensation reserve shown in the balance sheet liability site Rs 35000 and in adjustment it is said workmen compensation claim is to be created Rs 10000. The amount shown in the new balance sheet will be Rs .....
13. A and B are partners sharing profits in the ratio of 7:3. C is admitted as a new partner. "A" gave 1/7th of his share and "B" gave 1/3rd of his share to C. New Profit-sharing Ratio will be:
14. If at the time of admission, there is some unrecorded liability, it will be:
15. X and y are partners sharing profits in the ratio of 3:2, and capitals as 1, 00, 000 and 50, 000 respectively. Z is admitted for 1/5th share in profits.the amount Z will contribute as capital will be
16. A and B are partners sharing profits in the ratio of 4:3. They admitted C as a new partner who gets 1/5th share of profit, entirely from A. The new profit sharing ratio will be:
17. P and q are partners in a firm having capital of rupees 15000 each.R is admitted for 1/3rdshare for which he has to bring rupees 20000 for his share of capital. The amount of goodwill will be
18. X, Y, and Z were partners for 2:5:3 they decided to take M as a partner for 1/6th share which he acquires from Y and Z in 3:4. calculate NPSR.
19. If Asset is taken over by the partner ..... account is debited.
20. A, B and C share profits and losses in the ratio of 3:2:1. On admission of D, they agree to share profits and losses in the ratio of 5:4:2:1.Sacrificing Ratio of A, B and C will be .....
21. A, B and C are partners in a Firm. If D is admitted as a new partner:
22. Anshu and nitu are partners sharing profit in the ratio of 3:2. They admit jyoti as a new partner for 3/10 share which she acquired 2/10 from anshu and 1/10 from nitu. Calculate the new profit sharing ratio
23. A and B are partners sharing profits in the ratio of 2:3, they admit C as a partner for 1/4th share, the sacrificing ratio of a and b will be
24. M, N, O, and P were partners for 3:3:2:2.Q admitted as a new partner for 1/5th share whereas O decided to retain on his original share and M, N, and P decided to share future profit equally. calculate NPSR
25. Profit or loss on revaluation of assets and reassessment of liabilities is transferred to partners capital account in there
🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books