MCQ - Death of a Partner | Principles and Practice of Accounting - CA Foundation PDF Download

 Page 1


Partnership Accounts  
(Death of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit-5 
Prof. Deepak Jaggi 
Page 2


Partnership Accounts  
(Death of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit-5 
Prof. Deepak Jaggi 
MCQ’s 
Page 3


Partnership Accounts  
(Death of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit-5 
Prof. Deepak Jaggi 
MCQ’s 
MCQ.1 
Q.1. The Balance in the deceased partners capital account is 
transferred to the ______account. 
a) New Partner 
b) Old Partner 
c) Executor’s 
d) Remaining Partners 
Ans. c) Executor’s 
Page 4


Partnership Accounts  
(Death of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit-5 
Prof. Deepak Jaggi 
MCQ’s 
MCQ.1 
Q.1. The Balance in the deceased partners capital account is 
transferred to the ______account. 
a) New Partner 
b) Old Partner 
c) Executor’s 
d) Remaining Partners 
Ans. c) Executor’s 
MCQ.2 
Q.2. In the absence of proper agreement, representative 
of the deceased partner is entitled to the Dead partner’s 
share in the following items. 
a)  Profit till date, goodwill, joint life policy, interest on capital, share in revalued 
assets and liabilities. 
b) Capital, goodwill, joint life policy, interest on capital, share in revalued assets 
and liabilities. 
c) Capital, profits till date, goodwill, interest on capital, share in revalued assets 
and liabilities. 
d) Capital, profits till date , goodwill, joint life policy, share in revalued assets and 
liabilities. 
And. d) Capital, profits till date , goodwill, joint life policy, share in revalued 
assets and liabilities. 
Page 5


Partnership Accounts  
(Death of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit-5 
Prof. Deepak Jaggi 
MCQ’s 
MCQ.1 
Q.1. The Balance in the deceased partners capital account is 
transferred to the ______account. 
a) New Partner 
b) Old Partner 
c) Executor’s 
d) Remaining Partners 
Ans. c) Executor’s 
MCQ.2 
Q.2. In the absence of proper agreement, representative 
of the deceased partner is entitled to the Dead partner’s 
share in the following items. 
a)  Profit till date, goodwill, joint life policy, interest on capital, share in revalued 
assets and liabilities. 
b) Capital, goodwill, joint life policy, interest on capital, share in revalued assets 
and liabilities. 
c) Capital, profits till date, goodwill, interest on capital, share in revalued assets 
and liabilities. 
d) Capital, profits till date , goodwill, joint life policy, share in revalued assets and 
liabilities. 
And. d) Capital, profits till date , goodwill, joint life policy, share in revalued 
assets and liabilities. 
MCQ.3 
Q.3. As per Section 37 o the Indian Partnership Act, 1932, the executors would been 
entitled at their choice  to the interest calculated  from the date of death till the date of 
payment on the final amount du to the dead partner at _________percentage per 
annum. 
a) 7 
b) 4 
c) 6 
d) 12 
Ans. c) 6