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Class 12 Accountancy - Chapter 4: Reconstitution of a Partnership Firm - Retirement/Death of a Partner MCQ Questions

16 Questions 32 Minutes
Answered: 0 / 16Unanswered: 16

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

At the time of retirement of a partner, account is prepared.

Question 2

At the time retirement of a partner, ratio is calculated:

Question 3

After retirement of a partner, share of remaining partner will

Question 4

After the death of an existing partner, shares of remaining partner will

Question 5

Partnership will be dissolved if

Question 6

A, B and C are partners sharing profits in ratio 4 : 3 : 2. B retires, selling his share of profit to A and C for ₹ 7200 (₹. 4,000 paid by A and B 3,200 paid by C). The new profit sharing ratio of A and C would be:

Question 7

The retiring/deceased partner must be compensated in the form of premium (goodwill) for the share of profit in favour of continued partners. .

Question 8

At the time of death of a partner account is prepared.

Question 9

Profit or loss on revaluation of assets and liabilities at the time of retirement of a partner is shared by

Question 10

Retirement of a partner is of partnership firm.

Question 11

If there is any baiance left unpaid to the retiring / deceased partner, then interest @ will be given in the absence any provision of partnership deed.

Question 12

Gaining Ratio:

Question 13

At the time of retirement of a partner, goodwill will be credited in partner’s capital Account.

Question 14

Goodwill of the deceased partner will be debited in remaining partners’ capital Account in ratio.

Question 15

At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner, in absence of any agreement among partners, when (s)he opts for interest and not share of profit.

Question 16

At the time of retirement of an existing partner, goodwill already shown in the books is written off in ratio.

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