ClassXII Accountancy fundamental of partnership

ClassXII Accountancy fundamental of partnership

Assessment

Assessment

Created by

Awdhesh sahu

Other

3rd Grade

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7 questions

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1.

Multiple Choice

30 sec

1 pt

Partners current account are opened when their capital accounts are

fixed

fixed and fluctuating both

fluctuating

none of above

2.

Multiple Choice

30 sec

1 pt

The interest on capital accounts of partners under the fluctuating capital account method is credited to

interest account

profit and loss account

Partner's capital account

None of above

3.

Multiple Choice

30 sec

1 pt

In the absence of an agreement to the contrary, partner's share profit and losses in the

Ratio of their capital in the beginning of the Year

Ratio of their capital at the end of the year

Ratio of average capital

equal ratio

4.

Multiple Choice

30 sec

1 pt

In the absence of an agreement to the contrary ,the partnership are

Entitled for 6% interest on their capital ,only when they are profit

Entitled for 9% interest on their capital only when their profits

Entitled for interest on capital at the bank rate ,only when there are profits

Not entitled for any interest on their capitals

5.

Multiple Choice

30 sec

1 pt

Current account of a partner

Will always have a credit balance

Will always have a Debit balance

May have a Debit balance aur credit balance

Can never have a Debit balance

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