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Class 12 Accountancy - Chapter 3: Reconstitution of a Partnership Firm - Admission of a Partner MCQ Questions

23 Questions 46 Minutes
Answered: 0 / 23Unanswered: 23

Your Class 12 Accountancy Study Path

  1. 1LearnNCERT Solutions
  2. 2PracticeChapter MCQs
  3. 3TestChapter Test
  4. 4PrepareSample Papers
  5. 5Exam PracticePrevious-Year Papers
  6. 6Final CheckMock Test
Question 1

New Partner can be admitted in the firm with the consent of ________ old partners.

Question 2

When the new partner brings cash for goodwill, the amount is credited to:

Question 3

Goodwill is an _______ Assets.

Question 4

Question 58.

Question 5

A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:

Question 6

Old Partnership will dissolve if

Question 7

________ profit is excess of actual profits over normal profits.

Question 8

A decrease in the value of a liability will be recorded on the ________ side of revaluation account.

Question 9

Amount of old goodwill already appearing in the books will be written off:

Question 10

An increase in the value of an assets will be recorded in the _______ side of revaluation account.

Question 11

Share of old Partners will ________ if new partner admit in the firm.

Question 12

An increase in the value of a liability will be recorded on the ________ side of revaluation account.

Question 13

Any change in the relationship of existing partners which results at an end of the existing agreement and enforces making of a new agreement is called

Question 14

Unrecorded liabilities will be ______ in Revaluation Account.

Question 15

If new partner brings goodwill in cash then ________ Account will be debited.

Question 16

Value of reputation of the firm is:

Question 17

Profit or loss represented by Revaluation Account will be transferred to capital accounts of ______ partners.

Question 18

Gaining Ratio = ________

Question 19

Goodwill brought in cash by new partners will be transferred in old partners capital account in _______ Ratio.

Question 20

At the time of admission of a partner, new ratio will be calculated by:

Question 21

Unrecorded Assets will be _______ in Revaluation Account.

Question 22

Sacrifice Ratio = _______

Question 23

If new partner brings goodwill in cash then Account will be credited.

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