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# Test: Death Of A Partner - 3

## 8 Questions MCQ Test Principles and Practice of Accounting | Test: Death Of A Partner - 3

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This mock test of Test: Death Of A Partner - 3 for CA Foundation helps you for every CA Foundation entrance exam. This contains 8 Multiple Choice Questions for CA Foundation Test: Death Of A Partner - 3 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Death Of A Partner - 3 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Death Of A Partner - 3 exercise for a better result in the exam. You can find other Test: Death Of A Partner - 3 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

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QUESTION: 2

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QUESTION: 3

### In the absence of proper agreement, representative of the deseased partner is entitled to the Dead partner’s share in the following items.

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QUESTION: 4

As per Section 37 of the Indian Partnership Act, 1932, the executors would be entitled at their choice to the interest calculated from the date of death till the date of payment on the final amount due to the dead partner at …… percentage per annum.

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QUESTION: 5

A, B and C are the partners sharing profits and losses in the ratio 2:1:1. Firm has a joint life policy of Rs. 1,20,000 and in the balance sheet it is appearing at the surrender value i.e. Rs. 20,000. On the death of A, how this JLP will be shared among the partners.

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QUESTION: 6

R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006. It was decided to value the goodwill on the basis of three year’s purchase of last five years average profits. If the profits are Rs. 29,600; Rs. 28,700; Rs. 28,900; Rs. 24,000 and Rs. 26,800. What will be D’s share of goodwill?

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QUESTION: 7

R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006 and profits for the accounting year 2005-2006 were Rs. 24,000. How much share in profits for the period 1st April 2006 to 30th June 2006 will be credited to D’s Account.

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QUESTION: 8

If three partners A, B & C are sharing profits as 5:3:2, then on the death of a partner A, how much B & C will pay to A’s executer on account of goodwill. Goodwill is to be calculated on the basis of 2 years purchase of last 3 years average profits. Profits for last three years are: Rs. 3,29,000; Rs. 3,46,000 and Rs. 4,05,000.

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