TN State Board Samacheer Kalvi Online Test for 11th Std - Accountancy - English - Retirement and Death of a Partner

Question 1 Of 10

A, B and C are partners sharingprofits in the ratio of 2:2:1. On retirement of B, goodwill of the firm was valued as ₹ 30,000. Find the contribution of A and C to compensate B:

₹ 20,000 and ₹ 10,000 ₹ 8,000 and ₹ 4,000 ₹ 10,000 and ₹ 20,000 ₹ 15,000 and ₹ 15,000

Question 2 Of 10

X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed ₹ 36,000.

₹ 1,000 ₹ 3,000 ₹ 12,000 ₹ 36,000

Question 3 Of 10

At the time of retirement, of partners, the existing partners stand to

gain loss no change gain

Question 4 Of 10

A,B & C shares profit as 1/2 to A, 1/3 to B, and 1/6 to C. If B retries, then the new profit sharing ratio ………..

3:1 3:2 1:3 3:1

Question 5 Of 10

‘A’was a partner in a partnership firm. He died on 31st March 2019. The final amount due to him is ? 24,000 which is not paid immediately. It will be.transferred to

As capital account A’s loan account As Executors account As Executors loan account

Question 6 Of 10

At the time of retirement of a partner calculation of new profit, ratio is

not necessary necessary optional necessary

Question 7 Of 10

On the retirement of a partner, general reserve will be transferred to the

Capital account of all the partners Revaluation account Capital account of the continuing partners Memorandum revaluation account

Question 8 Of 10

At the time of retirement of a partner, determination of gaining ratio is required

To transfer revaluation profit or loss To distribute accumulated profits and losses . To adjust goodwill None of these

Question 9 Of 10

The final amount due to a retiring partner is not paid immediately,it is transferred to

BankA/c Retiring partners capital A/c Retiring partner s loan A/c Other partner s capital A/c

Question 10 Of 10

A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

End of the current accounting period End of the previous accounting period Date of his retirement Date of his final settlement

Tamil Nadu State Board ( Samacheer Kalvi ) Online Test based on Book Back Questions - 11th Standard Accountancy - English Medium - Retirement and Death of a Partner

Samacheer Kalvi 11th Accountancy - Retirement and Death of a Partner - Book Back Questions in English Medium