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Question No. -
181
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Maximum number of partners in a normal partnership are ________
Maximum number of partners in a normal partnership are ________
A.
5
5
B.
7
7
C.
2
2
D.
20
20
Question No. -
182
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Maximum number of partners in a banking partnership are _________
Maximum number of partners in a banking partnership are _________
A.
5
5
B.
7
7
C.
2
2
D.
10
10
Question No. -
183
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Current accounts are opened if capital is __________
Current accounts are opened if capital is __________
A.
fixed
fixed
B.
fluctuating
fluctuating
C.
not contributed
not contributed
D.
fixed or fluctuating
fixed or fluctuating
Question No. -
184
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Balance of capital (fix) accounts may be _________
Balance of capital (fix) accounts may be _________
A.
Dr.
Dr.
B.
Cr.
Cr.
C.
Dr. or Cr.
Dr. or Cr.
D.
Cr. and Dr.
Cr. and Dr.
Question No. -
185
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Salary to partners will be shown in _________
Salary to partners will be shown in _________
A.
Profit and loss account
Profit and loss account
B.
Profit and loss adjustment account
Profit and loss adjustment account
C.
Trading account
Trading account
D.
Manufacturing account
Manufacturing account
Question No. -
186
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Interest on capital will be shown in ________
Interest on capital will be shown in ________
A.
Capital account
Capital account
B.
Profit and loss adjustment account
Profit and loss adjustment account
C.
Trading account
Trading account
D.
Both of capital account and profit and loss adjustment account
Both of capital account and profit and loss adjustment account
Question No. -
187
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Drawings of partners will be shown in ________
Drawings of partners will be shown in ________
A.
Capital account
Capital account
B.
Profit and loss adjustment account
Profit and loss adjustment account
C.
Profit and loss account
Profit and loss account
D.
Trading account
Trading account
Question No. -
188
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In the absence of partnership deed partners are entitled to receive __________
In the absence of partnership deed partners are entitled to receive __________
A.
Interest on Capital
Interest on Capital
B.
Interest on Loan
Interest on Loan
C.
Salary
Salary
D.
Commission
Commission
Question No. -
189
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When question is silent about the date of withdrawal of drawing then Interest will becalculated for ________
When question is silent about the date of withdrawal of drawing then Interest will becalculated for ________
A.
6 months
6 months
B.
1 month
1 month
C.
6½ months
6½ months
D.
1 year
1 year
Question No. -
190
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If partnership deed mention that interest will be given 6% p.a. interest will be given _________
If partnership deed mention that interest will be given 6% p.a. interest will be given _________
A.
out of profits only
out of profits only
B.
definitely
definitely
C.
out of losses
out of losses
D.
with the permission of all partners
with the permission of all partners
Question No. -
191
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Partners Current Account have _________
Partners Current Account have _________
A.
debit balance
debit balance
B.
credit balance
credit balance
C.
debit or credit
debit or credit
D.
debit and credit
debit and credit
Question No. -
192
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In the absence of partnership deed how much interest will be given on capital?
In the absence of partnership deed how much interest will be given on capital?
A.
5% p.a.
5% p.a.
B.
6% p.a.
6% p.a.
C.
7% p.a.
7% p.a.
D.
No interest
No interest
Question No. -
193
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A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:
A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:
A.
₹ 90,000
₹ 90,000
B.
₹ 45,000
₹ 45,000
C.
₹ 5,400
₹ 5,400
D.
₹ 36,00
₹ 36,00
Question No. -
194
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Any change in the relationship of existing partners which results at an end of the existing agreement and enforces making of a new agreement is called
Any change in the relationship of existing partners which results at an end of the existing agreement and enforces making of a new agreement is called
A.
Revaluation of partnership
Revaluation of partnership
B.
Reconstitution of partnership
Reconstitution of partnership
C.
Realisation of partnership
Realisation of partnership
D.
None of the above
None of the above
Question No. -
195
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When the new partner brings cash for goodwill, the amount is credited to:
When the new partner brings cash for goodwill, the amount is credited to:
A.
Realisation Account
Realisation Account
B.
Cash Account
Cash Account
C.
Premium for Goodwill Account
Premium for Goodwill Account
D.
Revaluation Account
Revaluation Account
Question No. -
196
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Goodwill is an _______ Assets.
Goodwill is an _______ Assets.
A.
fixed
fixed
B.
intangible
intangible
C.
current
current
D.
fictitious
fictitious
Question No. -
197
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Value of reputation of the firm is:
Value of reputation of the firm is:
A.
Royalty
Royalty
B.
Assets
Assets
C.
Goodwill
Goodwill
D.
Patents
Patents
Question No. -
198
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________ profit is excess of actual profits over normal profits.
________ profit is excess of actual profits over normal profits.
A.
Net
Net
B.
Average
Average
C.
Super
Super
D.
Appropriated
Appropriated
Question No. -
199
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Sacrifice Ratio = _______
Sacrifice Ratio = _______
A.
New Ratio – Old Ratio
New Ratio – Old Ratio
B.
Old Ratio – New Ratio
Old Ratio – New Ratio
C.
New Ratio + Old Ratio
New Ratio + Old Ratio
D.
Old Ratio + New Ratio
Old Ratio + New Ratio
Question No. -
200
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Gaining Ratio = ________
New Ratio – Old Ratio
New Ratio – Old Ratio
A.
New Ratio – Old Ratio
New Ratio – Old Ratio
B.
Old Ratio – New Ratio
Old Ratio – New Ratio
C.
New Ratio + Old Ratio
New Ratio + Old Ratio
D.
Old Ratio + New Ratio
Old Ratio + New Ratio
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