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ADMISSION OF A PARTNER

Quiz by Pooja Bhatla

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10 questions
Show answers
  • Q1
    &A,B&C were sharing in the ratio of 5:3:2. They admit D for 1/5th share which he gets from A &B equally.
    4:2:2:2
    4:1:1:1
    2:2:2:2
    6:2:1:1
    120s
  • Q2
    SACRIFICE RATIO=
    OLD-NEW
    OLD RATIO
    NEW+OLD
    NEW-OLD
    30s
  • Q3
    A &B were sharing in the ratio of 7:3. They admit C for 3/7 share in the firm which he takes 2/7 from A and 1/7 from B. Calculate new profit sharing ratio.
    11:29:30
    7:3:3
    30:29:11
    29:11:30
    120s
  • Q4
    A,B and C were sharing equally. D admits for 1/3rd share .Find sacrifice ratio .
    1:1:1
    3:2
    1:1
    2:1;1
    60s
  • Q5
    Profit or Loss on revaluation of assets and reassessment of liabilities is transferred to partners in their
    equally
    gaining ratio
    capital ratio
    old ratio
    20s
  • Q6
    unrecorded asserts and liabilities are transferred to
    current a/c
    P& La/c
    revaluation account
    capital a/c
    30s
  • Q7
    When the new partner brings cash for goodwill , the amount of credited to
    Premium for Goodwill Account
    Cash Account
    Revaluation Account
    Realisation Account
    30s
  • Q8
    Goodwill Brought by the incoming partner is distributed among the old partner in their
    New Profit -Sharing ratio
    Sacrificing ratio
    Old profit -Sharing ratio
    Gaining ratio
    30s
  • Q9
    New partner can be admitted into partnership
    with the consent of majority of partners
    with the consent of all the partners
    with the consent of 2/3rd of old partners.
    with the consent of any one partner
    30s
  • Q10
    At the time of admission , If the profit - sharing ratio among old partners does not change. then sacrificing ratio will be
    old ratio
    ratio of partners capital
    equal
    new ratio
    45s

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