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ORDER BY `video_id` desc 12th Standard Accounts Retirement and Death of a Partner English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 12th Standard
Accountancy Answer all the questions On retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners in the New profit sharing ratio Old profit sharing ratio Gaining ratio Sacrificing ratio If the final amount due to a retiring partner is not paid immediately, it is transferred to Bank A/c Retiring partner’s capital A/c Retiring partner’s loan A/c Other partners’ capital A/c X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000. Rs. 1,000 Rs. 3,000 Rs. 12,000 Rs. 36,000 ________ratio is calculated by taking out the difference between new profit sharing ratio and old profit sharing ratio Gaining Sacrifice Old New X,Y,Z were partners sharing profits in the ratio of 5:3:2. Goodwill does not appear in books, but it is agreed to be worth Rs. 1,00,000. X retires from the firm and Y and Z decide to share future profits equally. X’s share of goodwill will be debited to Y’s and Z’s capital A/c’s in ratio ___________ 1/2 : 1/2 2 : 3 3 : 2 None of these A, B and C were partners sharing profits and losses in the ratio of 3 : 2 : 1. On 1st April, B retired and the new profit sharing ratio between A and C decided to 3 : 2. On 31st March there were reserves of firm Rs. 24,000. This reserve will be divided among partners as __________ A - Rs. 8000, B - Rs. 12,000, C - Rs. 4,000 A - Rs. 8000, B - Rs. 12,000, C - Rs. 4,000 A - Rs. 8000, B - Rs. 12,000, C - Rs. 4,000 A - Rs. 8000, B - Rs. 12,000, C - Rs. 4,000 If the goodwill is raised to the extent of retiring partners share _______ account is to be debited Cash Goodwill All partner’s capital Retiring partners capital Kayal, Mala and Neela are partners sharing profits in the ratio of 2:2:1. Kayal retires and the new profit sharing ratio between nila and neela is 3:2. Calculate the gaining ratio. 2:1 1:2 1:1 3:1 When a partner withdraws his capital from the partnership firm, it is called _______of a partner Admission Death Retirement All of these ________ of partner will be paid off, before the settlement of partner’s capital. Capital Loan Asset None of these Answers Old profit sharing ratio Retiring partner’s loan A/c Rs. 3,000 Gaining 2 : 3 A - Rs. 8000, B - Rs. 12,000, C - Rs. 4,000 Goodwill 1:1 Retirement Loan
12th Standard Accounts Retirement and Death of a Partner English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021
Question Bank Software Nov-06 , 2020
12th Standard Accounts Retirement and Death of a Partner English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021
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