NCERT Class 12 Accountancy MCQ : Reconstitution of Partnership Firm Admission of a Partner
Embark on a journey through the intricate world of business partnerships with our MCQs page dedicated to the ‘Reconstitution of Partnership Firm: Admission of a Partner.’ Curated from a diverse array of previous year papers, including esteemed sectors such as UPSC IAS and more, this resource invites you to explore the nuances of partnership dynamics and the strategic decisions involved in admitting new partners.
These Multiple Choice Questions are meticulously crafted to challenge and enhance your understanding of the legal, financial, and managerial aspects surrounding the admission of a partner to a business firm. Whether you’re a business studies enthusiast or preparing for competitive exams, these questions offer a strategic approach to mastering the intricacies of this critical aspect of business law.
Prepare confidently for exams with questions sourced from various sectors, ensuring a well-rounded grasp of the legal implications, financial considerations, and management strategies involved in partnership reconstitution. Each MCQ serves as a key to unlocking insights into the diverse scenarios that businesses face when admitting new partners, mirroring the depth of knowledge required for success in competitive examinations.
Immerse yourself in the study of ‘Reconstitution of Partnership Firm,’ confident in your ability to navigate through MCQs that mirror the complexities of this significant aspect of business law. Our resource, drawn from previous year papers, acts as a roadmap for exam success, offering both knowledge enrichment and strategic insights
NCERT Class 12 Accountancy : Reconstitution of Partnership Firm Admission of a Partner MCQ – NCERT Class 12 MCQ
Question:
Goodwill is nothing more than probability that the old customer will resort to the old place. This definition of goodwill was given by:
A
B
C
D
Question:
Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be :
A
B
C
D
Question:
When there is no Goodwill Account in the books and goodwill is raised,…………….account will be debited
A
B
C
D
Question:
The amount of goodwill is paid by new partner :
A
B
C
D
Question:
At the time of admission of a new partners general reserve appearning in the old Balance Sheet is transferred to:
A
B
C
D
Question:
Profit or Loss on Revaluation is borne by:
A
B
C
D
Question:
Share of goodwill brought by new partner in case is shared by old partners in :
A
B
C
D
Question:
A, Band Care three partners sharing profits and losses in the ratio of 4:3:2. D is admitted for 1/10 share, the new ratio will be :
A
B
C
D
Question:
A and B are partners in a firm sharing profits in the ratio of 3:2. They admit C as a new partner for 1/3 rd share in the profits of the firm. The new profit sharing ratio of A, B and C would be :
A
B
C
D
Question:
X and Y are partners sharing profits in the ratio of 1:1. They admit Z for 1/5 th share who contributed ₹25,000 for his share of goodwill. The total value of goodwill of the firm will be :
A
B
C
D
Question:
A, B and C are partners in a firm. If D is admitted as a new partner, then:
A
B
C
D
Question:
In which ratio, the cash brought in for goodwill by the new partner is shared by the existing partners :
A
B
C
D
Question:
Sacrificing ratio is ascertained at the time of
A
B
C
D
Question:
If at the time of admission of new partner, Profit and Loss Account balance appears in the books, it will the transferred to
A
B
C
D
Question:
State the ‘true’ statement:
A
B
C
D
Question:
Excess of the credit side over the debit side of Revaluation account is:
A
B
C
D
Question:
Balance sheet prepared after new partnership agreement, assets and liabilities are recorded at:
A
B
C
D
Question:
Assets and Liabilities are shown at their revalued values in :
A
B
C
D
Question:
Which of the following assets is compulsorily revalued at the time of admission of a new partner
A
B
C
D
Question:
A and B are partners. C is admitted with 1/5 share. C brings 7 1,20,000 as his share towards capital. The total net worth of the firm is :
