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

 Page 1


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
Page 2


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
MCQ’s 
Page 3


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
MCQ’s 
MCQ.1 
Q.1. X, Y and Z are partners with profits sharing ratio 4:3:2.  Y retires and 
Goodwill ?10,800 shown  in books of account.  If X and Z shares profits 
new ratio in 5:3, then find the gain profit sharing ratio. 
a) 13:11 
b) 17 : 11 
c) 31 : 11 
d) 14 : 21 
Ans. a) 
13:11 
Page 4


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
MCQ’s 
MCQ.1 
Q.1. X, Y and Z are partners with profits sharing ratio 4:3:2.  Y retires and 
Goodwill ?10,800 shown  in books of account.  If X and Z shares profits 
new ratio in 5:3, then find the gain profit sharing ratio. 
a) 13:11 
b) 17 : 11 
c) 31 : 11 
d) 14 : 21 
Ans. a) 
13:11 
MCQ.2 
Q.2. The Capitals of X, Y and Z are ?1,00,000, ?75,000 and ?50,000 , 
profits are shared in the ratio of 3:2:1.  Y retires on the basis of firm 
purchased by other partners in the new ratio between X and Z is 3:1.  
Find the capital of X and Z. 
a) ?1,50,000 
and ?1,00,000 
b) ?1,46,250 
and ?42,000 
c) ?1,56,250 
and ?68,750 
d) ?86,250 and 
?46,250 
Ans. c) ?1,56,250 and 
?68,750 
 
Page 5


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
MCQ’s 
MCQ.1 
Q.1. X, Y and Z are partners with profits sharing ratio 4:3:2.  Y retires and 
Goodwill ?10,800 shown  in books of account.  If X and Z shares profits 
new ratio in 5:3, then find the gain profit sharing ratio. 
a) 13:11 
b) 17 : 11 
c) 31 : 11 
d) 14 : 21 
Ans. a) 
13:11 
MCQ.2 
Q.2. The Capitals of X, Y and Z are ?1,00,000, ?75,000 and ?50,000 , 
profits are shared in the ratio of 3:2:1.  Y retires on the basis of firm 
purchased by other partners in the new ratio between X and Z is 3:1.  
Find the capital of X and Z. 
a) ?1,50,000 
and ?1,00,000 
b) ?1,46,250 
and ?42,000 
c) ?1,56,250 
and ?68,750 
d) ?86,250 and 
?46,250 
Ans. c) ?1,56,250 and 
?68,750 
 
MCQ.3 
Q.3. Outgoing partner is compensated for parting with firm’s future profits 
in favour of remaining partners.  In what ratio do the remaining partners 
contribute to such compensation amount 
a) Gaining Ratio 
b) Capital Ratio 
c) Sacrificing Ratio 
d) Profit Sharing Ratio 
Ans. a) Gaining Ratio