Accounts and financial management 3
問題一覧
1
Partnership is a legal relationship between persons according the
Indian partnership act 1932
2
The profit sharing ratio among the partner may be----- from the ratio to share losses.
Different
3
The maximum number of persons permitted to form a partnership for banking business are ____ partners
10
4
The partnership cannot be formed to share ____only
losses
5
The persons who have agreed to carry on the partnership ____
Partners
6
It is a ____relationship between persons created through the partnership act 1932
Legal
7
The partnership agreement can be ____or written
Oral
8
In the partnership business the partners are collectively called ____
Firm
9
To admit a new partner with consent to ____ partners
Existing
10
In absence of agreement, partners share profit on loss in____
Equally
11
____ number of partners allowed in case of Retail business.
Minimum
12
The minor partner cannot be personally liable to share ____ of the firm.
Losses
13
In absence of agreement, Interest on loan at ____% p a is payable by the firm.
6%
14
Partners can contribute capital either in cash/bank or ____
in Kind
15
The persons who have agreed to carry on partnership business are ____ known as partners and ____ called as a ____
Individually, Collectively, Firm
16
The partnership cannot be formed to do ____ business
Illigal
17
The partners may share profit and losses of the firm ____ ratio.
Different
18
It is not necessary that partners should contribute ____ in profit sharing ratio.
Capital
19
A ____ partner is not personally liable to share the losses of the firm.
Minor
20
In the absence of a partnership agreement interest on ____ should not be paid to partners.
Capital
21
It is not necessary that partners should contribute ____ in profit sharing ratio.
Capital
22
Maximum number of partners in insurance business is ____ persons
10
23
A particular partner may not share ____ of firm at all.
Losses
24
In the ____ of a partnership deed, each partner have free access of all partnership record, Books and accounts.
Absence
25
Any salary paid or payable to a partner is treated as ____
Distribution of profit
26
If any commission is paid or payable to a partner shall be debited to ____
Profit and loss Appropriate Account
27
When the join life policy premium paid is treated as expense of the firm it is to be debited to ____
Partner's capital in PSR (profit sharing ratio)
28
Variable expenses related to sales are to be divided in the ____ ratio.
Expenses
29
Wages paid for installation of machinery must be debited to ____
Purchase account
30
Reserves appearing in the balance sheet belongs to the ____
Liabilities
31
If the incoming partner is bringing his share of goodwill in cash, the Journal entries will be ____
To goodwill account
32
Net profit/loss before admission should be transferred to the ____ partner in their old profit sharing ratio.
Old
33
The new firm formed after amalgamation is called as ____ firm
Amalgamated
34
The existing firms getting merged together to form new entity are called as ____firm.
Amalgamating
35
For calculating purchase consideration, it is necessary to get assets to be
Revalued
36
If one of the firm continues in future with taking the other firm's business is called ____
Absorption
37
Excess of Assets taken over liabilities is ____
Net assets or Purchase consideration
38
Economies of large scale combined operations will ____ fixed cost per unit.
Reduce
39
Excess of net assets over purchase consideration is transferred to ____
Capital reserves
40
Purchase consideration less net assets= ____
Goodwill
41
For transferring RDD in the book of old firm ____ account is created.
Realisation
42
____ is the amount payable by the purchasing firm to the vendor firm for taking over it's business.
Purchase consideration
43
On amalgamation, assets and liabilities of vendor firm transferred to ____ account at book value.
Realisation
44
The new firm formed after amalgamation is called as ____
Amalgamated firm
45
____ Ac is opened to find profit/loss on closing of the old firm.
Realisation acc
46
The firm which decided to merge together to form ____ entity are called as amalgamating firms.
New
47
Provision for depreciation on fixed assets appearing in the Balance sheet of vendor firm is created to ____ ac
Realisation ac
48
On amalgamation of firms unrecorded assets taken over by partners is debited ____ to ac.
Partner's capital ac
49
On amalgamation of firm, accumulated losses of old firm are transferred to____
Debited to old partner's in old PSR
50
On amalgamation of firm unrecorded liabilities taken over by partner is created to____
Partner's capital account
51
Debit balance in realisation ac indicates ____
Loss on realisation
52
On amalgamation, expenses on dissolution of vendor firm paid by partner is to be credited to ____
Partner's capital ac
53
Goodwill of amalgamated firm written off____
Debited to all new partners in new ratio
問題一覧
1
Partnership is a legal relationship between persons according the
Indian partnership act 1932
2
The profit sharing ratio among the partner may be----- from the ratio to share losses.
Different
3
The maximum number of persons permitted to form a partnership for banking business are ____ partners
10
4
The partnership cannot be formed to share ____only
losses
5
The persons who have agreed to carry on the partnership ____
Partners
6
It is a ____relationship between persons created through the partnership act 1932
Legal
7
The partnership agreement can be ____or written
Oral
8
In the partnership business the partners are collectively called ____
Firm
9
To admit a new partner with consent to ____ partners
Existing
10
In absence of agreement, partners share profit on loss in____
Equally
11
____ number of partners allowed in case of Retail business.
Minimum
12
The minor partner cannot be personally liable to share ____ of the firm.
Losses
13
In absence of agreement, Interest on loan at ____% p a is payable by the firm.
6%
14
Partners can contribute capital either in cash/bank or ____
in Kind
15
The persons who have agreed to carry on partnership business are ____ known as partners and ____ called as a ____
Individually, Collectively, Firm
16
The partnership cannot be formed to do ____ business
Illigal
17
The partners may share profit and losses of the firm ____ ratio.
Different
18
It is not necessary that partners should contribute ____ in profit sharing ratio.
Capital
19
A ____ partner is not personally liable to share the losses of the firm.
Minor
20
In the absence of a partnership agreement interest on ____ should not be paid to partners.
Capital
21
It is not necessary that partners should contribute ____ in profit sharing ratio.
Capital
22
Maximum number of partners in insurance business is ____ persons
10
23
A particular partner may not share ____ of firm at all.
Losses
24
In the ____ of a partnership deed, each partner have free access of all partnership record, Books and accounts.
Absence
25
Any salary paid or payable to a partner is treated as ____
Distribution of profit
26
If any commission is paid or payable to a partner shall be debited to ____
Profit and loss Appropriate Account
27
When the join life policy premium paid is treated as expense of the firm it is to be debited to ____
Partner's capital in PSR (profit sharing ratio)
28
Variable expenses related to sales are to be divided in the ____ ratio.
Expenses
29
Wages paid for installation of machinery must be debited to ____
Purchase account
30
Reserves appearing in the balance sheet belongs to the ____
Liabilities
31
If the incoming partner is bringing his share of goodwill in cash, the Journal entries will be ____
To goodwill account
32
Net profit/loss before admission should be transferred to the ____ partner in their old profit sharing ratio.
Old
33
The new firm formed after amalgamation is called as ____ firm
Amalgamated
34
The existing firms getting merged together to form new entity are called as ____firm.
Amalgamating
35
For calculating purchase consideration, it is necessary to get assets to be
Revalued
36
If one of the firm continues in future with taking the other firm's business is called ____
Absorption
37
Excess of Assets taken over liabilities is ____
Net assets or Purchase consideration
38
Economies of large scale combined operations will ____ fixed cost per unit.
Reduce
39
Excess of net assets over purchase consideration is transferred to ____
Capital reserves
40
Purchase consideration less net assets= ____
Goodwill
41
For transferring RDD in the book of old firm ____ account is created.
Realisation
42
____ is the amount payable by the purchasing firm to the vendor firm for taking over it's business.
Purchase consideration
43
On amalgamation, assets and liabilities of vendor firm transferred to ____ account at book value.
Realisation
44
The new firm formed after amalgamation is called as ____
Amalgamated firm
45
____ Ac is opened to find profit/loss on closing of the old firm.
Realisation acc
46
The firm which decided to merge together to form ____ entity are called as amalgamating firms.
New
47
Provision for depreciation on fixed assets appearing in the Balance sheet of vendor firm is created to ____ ac
Realisation ac
48
On amalgamation of firms unrecorded assets taken over by partners is debited ____ to ac.
Partner's capital ac
49
On amalgamation of firm, accumulated losses of old firm are transferred to____
Debited to old partner's in old PSR
50
On amalgamation of firm unrecorded liabilities taken over by partner is created to____
Partner's capital account
51
Debit balance in realisation ac indicates ____
Loss on realisation
52
On amalgamation, expenses on dissolution of vendor firm paid by partner is to be credited to ____
Partner's capital ac
53
Goodwill of amalgamated firm written off____
Debited to all new partners in new ratio