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Published on: 01/09/2022
QB365 provides a detailed and simple solution for every Possible Book Back Questions in Class 12 Accountancy Subject - Admission of a Partner, English Medium. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.
Download Tamil Nadu 12th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
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1.
Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.
1:3
3:1
2:1
1:2
2.
James and Kamal are sharing profits and losses in the ratio of 5:3. They admit Sunil as a partner giving him 1/5 share of profits. Find out the sacrificing ratio.
1:3
3:1
5:3
3:5
3.
4.
Match List I with List II and select the correct answer using the codes given below:
| List I | List II |
| (i) Sacrificing ratio | 1. Investment fluctuation fund |
| (ii) Old profit sharing ratio | 2. Accumulated profit |
| (iii) Revaluation Account | 3. Goodwill |
| (iv) Capital Account | 4. Unrecorded liability |
| (i) | (ii) | (iii) | (iv) |
| 1 | 2 | 3 | 4 |
| (i) | (ii) | (iii) | (iv) |
| 3 | 2 | 4 | 1 |
| (i) | (ii) | (iii) | (iv) |
| 4 | 3 | 2 | 1 |
| (i) | (ii) | (iii) | (iv) |
| 3 | 1 | 4 | 2 |
5.
Which of the following statements is not true in relation to admission of a part _________.
Generally mutual rights of the partners change
The profits and losses of the previous years are distributed to the old partners
The firm is reconstituted under a new agreement
The existing agreement does not come to an end
6.
7.
If the old profit sharing ratio is more than the new profit sharing ratio of a partner, the difference is called
Capital ratio
Sacrificing ratio
Gaining ratio
None of these
8.
The profit or loss on revaluation of assets and liabilities is transferred to the capital account of
The old partners
The new partner
All the partners
The Sacrificing partners
9.
On revaluation, the increase in the value of assets leads to
Gain
Loss
Expense
None of these
10.
Revaluation A/c is a
Real A/c
Nominal A/c
Personal A/c
Impersonal A/c
1.
(d)
1:2
2.
(c)
5:3
3.
(c)
4.
(b)
| (i) | (ii) | (iii) | (iv) |
| 3 | 2 | 4 | 1 |
5.
(d)
The existing agreement does not come to an end
6.
(d)
7.
(b)
Sacrificing ratio
8.
(a)
The old partners
9.
(a)
Gain
10.
(b)
Nominal A/c
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