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

Question 1 Of 10

At the time of retirement, the revelation profits of the business will be shared by ……………… partners.

all the partners Continuing partners Old partners all the partners

Question 2 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 3 Of 10

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

gain loss no change gain

Question 4 Of 10

On revaluation, the increase in liabilities leads to ……………….

Gain Loss Profit None of these

Question 5 Of 10

On the retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners on the basis of

New profit sharing ratio Old profit sharing ratio Gaming ratio Sacrificing ratio

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

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 8 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

Question 9 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 10 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

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

Samacheer Kalvi 12th Accountancy - Retirement and Death of a Partner - Book Back Questions in English Medium