Class XII

A and B sharing profit in the ratio of 4:3. C is admitted and balance sheet shows a balance of General Reserve ₹70000.WHAT amount OF General Reserve should be transfer to B’s A/c
  1. ₹30000
  2. ₹40000
  3. ₹15000
  4. ₹35000
A, B and C are partners sharing profits in the ratio of 3:2:1. They admit D for 1/6 share. C would retain his old share. Calculate new ratio of all partners.
  1. 9 : 8 : 5:6
  2. 9 : 8 : 5:5
  3. 12 : 8 : 5 : 5
  4. 10 : 8 : 5:5
According to section 31(1) of _____ new partner can be admitted only with consent of all existing partners
  1. Joint Hindu Family
  2. Partnership Act, 1932
  3. Cooperatives
Revaluation account is not prepared at the time of _________________
  1. Admission
  2. Retirement
  3. Dissolution
  4. Death
How would you calculate the new partner’s capital, when it is not given in the question?
  1. All partners capital after adjustment x reciprocal of old partner’s share x new partner’s share
  2. Old partners capital after adjustment x reciprocal of sacrificing share × new partner’s share
  3. Old partners capital after adjustment x reciprocal of remaining share x new partner’s share
  4. Old partners capital after adjustment x reciprocal of old partner’s share × sacrificing share
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