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Admission of Partner

Authored by NEHA BAROTARA

Other

12th Grade

Used 65+ times

Admission of Partner
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A new partner may be admitted into a partnership :

(A) With the consent of any one partner

(B) With the consent of majority of partners

(C) With the consent of all old partners

(D) With the consent of 2/3rd of old partners

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On the admission of a new partner :

(A) Old firm is dissolved

(B) Old partnership is dissolved

(C) Both old partnership and firm are dissolved

(D) Neither partnership nor firm is dissolved

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

X and Y are partners sharing profit in the ratio of 3 : 2. Z was admitted with 1/4 share in profits which he acquires equally from X and Y. The new ratio will be:

(A) 9 : 6 : 5

(B) 19 : 11 : 10

(C) 3 : 3 : 2

(D) 3 : 2 : 4

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Workmen compensation reserve shown in the balance sheet liability site Rs 35000 and in adjustment it is said workmen compensation claim is to be created Rs 10000. The amount shown in the new balance sheet will be Rs...............

35000

10,000

25000

45000

5.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

A,B and c were partners in a firm sharing profits in the ratio of 3:2:1. They admitted D as a new partner for 1/8 share in the profits, which he acquired 1/16 from B and 1/16 from C.

Calculate new profit sharing ratio of A ,B,C and D.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What right a newly admitted partner acquires in the firm after his admission?

Right to vote

Right to admit any partner

Right to share assets of the firm

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

P and Q are two partners in a firm having capitals of Rs 15000 each.R is admitted for 1/3 rd share for which he has to bring Rs 20000 for his share of capital. The amount of goodwill will be ............

5000

15000

10,000

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