This a MCQ (Multiple Choice Question) based practice test of Chapter 3 - Admission of a Partner of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinations
Q Why a new partner is admitted in the firm?
Out of the following, which is the main right of a partner?
1 Crore+ students have signed up on EduRev. Have you? Download the App |
A and B are partners in a firm sharing profits in the ratio of 2 : 1. They admit C as a new partner for 1/5 share. New Ratio will be 3 : 1 : 1. Sacrificing ratio will be:
A and B are partners in a firm sharing profits and losses in the ratio 1:2.They admitted C into the partnership and decided to give him 1/3rd share of the future profits. Find the new ratio of the partners.
Being Chander brought Rs 20000 for his share of goodwill. Which amount should be debited:
A, a contractor, appointed B to manage his entire work. It was agreed that B would receive 50% of the profits as his remuneration and would bear all the losses, if any. Here, B is
The Balance Sheet shows land and building Rs. 90,300. But after the change in agreement land and building be brought up to Rs.1, 19,700. By what amount land and building account should be recorded in revaluation account
A and B are partners in a firm sharing profits in the ratio of 2 : 1. They admit C as a new partner for 1/5 share. New Ratio of A and B will be 1 : 2. Sacrificing ratio will be:
47 videos|117 docs|56 tests
|
47 videos|117 docs|56 tests
|