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12th Standard English Medium Accountancy Subject Admission of a Partner Creative 1 Mark Questions with Solution Part - II

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5
    5 x 1 = 5
  1. Sumit and Ravi started a business by investing Rs. 85000 and 15000 respectively. In what ratio the profit earned after 2 years be divided between Sumit and Ravi respectively.

    (a)

    17:1

    (b)

    17:2

    (c)

    17:3

    (d)

    17:4

  2. Total proprietorship of the business is increased ______________

    (a)

    at the admission of a new partner

    (b)

    by the purchase of asset

    (c)

    by admission through investment

    (d)

    All of these

  3. A partner who is newly admitted to the firm with the consent of all the parties is called _________

    (a)

    Salaries Partner

    (b)

    Incoming partner

    (c)

    Junior partner

    (d)

    Minor partner

  4. When a new partner is admitted under bonus method capital method of the firm increase by __________

    (a)

    the new investment

    (b)

    less than the new investment

    (c)

    Zero

    (d)

    More than the new investment

  5. Introduction of a new partner due to _________

    (a)

    Need to more capital

    (b)

    Fresh ideas and more contacts

    (c)

    Obtaining of a skilled and reputable person

    (d)

    All of the above

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