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ORDER BY `video_id` desc Admission of a Partner 12th Standard
Accountancy Revaluation A/c is a Real A/c Nominal A/c Personal A/c Impersonal A/c On revaluation, the increase in the value of assets leads to Gain Loss Expense None of these The profit or loss on revaluation of assets and liabilities is transferred to the capital account of The old partners The new partner All the partners The Sacrificing partners At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of all the partners the old partners the new partner the sacrificing partne Revaluation account is also called Accumulation profit and loss account Profit and loss adjustment account Profit and loss appropriation account None of these When the value of an asset increases, it results in profit loss income expense When an unrecorded liabilities is brought into books, is results in profit loss income expense In order to maintain fair dealings, at the time of admission, it is necessary to revalue assets and liabilities of the firm to their _______ Cost price True value Selling price None of these On admission of a partner if goodwill account is to be raised this should be debited to __________ Partner's capital account Partner's capital account Revaluation account None of these The old partners share all the accumulated profits and reserve in their ___________ new profit sharing ratio old profit sharing ratio capital ratio sacrificing ratio Answers Nominal A/c Gain The old partners the sacrificing partne Profit and loss adjustment account profit loss True value Partner's capital account old profit sharing ratio
12th Accountancy Unit 5 Admission of a Partner One Mark Question and Answer
Question Bank Software Aug-27 , 2019
Admission of a Partner One Mark Question
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