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Class 12 Accountancy Chapter 2 Accounting For Partnership Firms Admission Of A Partner Quiz 3 (17 MCQs)

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1. A and B are partners sharing profits and losses in the ration of 5:3. On admission, C brings ₹ 70, 000 as cash and ₹ 43, 000 against goodwill. The new profit ratio between A, B, and C is 7:5:4. The sacrifice ratio of A and B is
2. At the time of admission of a partner, general reserve appearing in the old Balance sheet is transferred to
3. The balance in the investment Fluctuation fund after meeting the fall in book value of investment, at the time of admission of partner will transferred to:
4. A, B, C are partners sharing profit in ratio of 3:2:1.D admitted in the firm as a new partner with 1/6th share.calculate new profit share ratio
5. If the incoming partner is to bring Premium for Goodwill in cash and also a balance exists in Goodwill Account, then this Goodwill Account is written off among old partners in:
6. When new partner brings cash for goodwill, the amount is credited to:
7. At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to capital Account of
8. X and Y are partners sharing profits in the ratio of 3:2. Z is admitted as a partner. Calculate sacrifi cing ratio if new profit sharing ratio is 9:7:4.
9. A and B are partners sharing profits in the ratio of 5:3. A surrenders 1/4th of his share and B surrenders 1/5th of his share in favour of C, a new partner. What is the sacrificing ratio?
10. X and Y are partners sharing profit in the ratio of 3:2. Z was admitted with 1/4 share in profits which he acquires equally from X and Y. The new ratio will be:
11. Anju and Eeshan are two partners sharing profits and losses in the ratio of 3:2. They decided to admit Aaroh for 1/5$^{th}$ share, the new Profit-sharing ratio will be .....
12. What right a newly admitted partner acquires in the firm after his admission?
13. At the time of admission if the profit sharing ratio among the old partner does not change then sacrificing ratio will be
14. WHEN PSR OF OLD PARTNERS DOES NOT CHANGE, THEY SACRIFICE IN THEIR OLD RATIO
15. A and B are in partnership sharing profits and losses as 3:2. C is admitted for 1/4th share. Afterwards, D enters for 20 paisa in the rupee. The new profit sharing ratio after D's admission will be:
16. A, B, and C are partner sharing profits in ratio 3:2:1. They agree to admit D into the firm. A, B, and C agreed to give 1/3rd, 1/6th, 1/9th share of their profit. The share of profit of D will be
17. Unrecorded assets or liabilities are transferred to
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