TN State Board Samacheer Kalvi Online Test for 12th Std - Accountancy - English - Admission of a Partner

Question 1 Of 10

Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

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

Question 2 Of 10

James and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh, and Yogesh is agreed to 3:1:1. Find the sacrificing ratio.

1:3 3:1 5:3 3:5

Question 3 Of 10

Select the odd one out

Revaluation profit Accumulated loss Goodwill brought by a new partner Investment fluctuation fund

Question 4 Of 10

If the old profit sharing ratio is more than the new profit sharing ratio of a partner, the difference is called

Capital ratio Sacrificing ratio all the partners the old partners

Question 5 Of 10

On revluation, the increase in the value of assets leads to

Gain Loss Expense None of these

Question 6 Of 10

Revaluation A/c is a

Real A/c Nominal A/c Personal A/c Impersonal A/c

Question 7 Of 10

The profit or loss on revaluation of assets and liabilities is transferred to the capital account of

The old partners The new partner All the partners The Sacrificing partners

Question 8 Of 10

Which of the following statements is not true in relation to the admission of a partner

Generally mutual rights of the partners change The profits and losses of the previous years are distributed to the old partners The firm is reconstituted under a new agreement The existing agreement does not come to an end

Tamil Nadu State Board ( Samacheer Kalvi ) Online Test based on Book Back Questions - 12th Standard Accountancy - English Medium - Admission of a Partner

Samacheer Kalvi 12th Accountancy - Admission of a Partner - Book Back Questions in English Medium