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Free MCQ’s Quiz on Class 12 Accountancy Part 1 – Chapter 3 – Reconstitution of a Partnership Firm – Admission of a Partner – Set 1

Free MCQ’s Quiz for Class 12 Accountancy Part 1 Chapter 3 – Reconstitution of a Partnership Firm – Admission of a Partner with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 12th Accountancy – ‘Reconstitution of a Partnership Firm – Admission of a Partner’ Multiple Choice Questions with Answers to know their preparation level on the Success Roar Classes website.

Here, we have provided Free MCQ’s Quiz on Class 12 Accountancy Part 1 – Chapter 3 – Reconstitution of a Partnership Firm – Admission of a Partner. In Reconstitution of a Partnership Firm – Admission of a Partner, we will go over all of this in detail, as well as the accounting implications of admitting a new partner or changing the profit-sharing ratio. According to the Partnership Act of 1932, unless otherwise agreed upon, a new partner can be admitted into the firm only with the consent of all existing partners.

To make you perfect in this topic – Reconstitution of a Partnership Firm – Admission of a Partner, we are here with a set of MCQs Quiz that will help you in brushing up the understanding of the concepts.

Free MCQ’s on Reconstitution of a Partnership Firm – Admission of a Partner.

Each set of MCQ’s consists of 10 Questions and you can see the results immediately after submitting the Set.

Free MCQ’s on Reconstitution of a Partnership Firm – Admission of a Partner

Results

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#1. If A, B, and C are partners in a firm. If D is admitted as a new partner:

#2. On the admission of a new partner increase in the value of assets is debited:

#3. On the admission of a new partner, the decrease in the value of acids debited to:

#4. General reserve at the time of admission of a new partner is transferred to:

#5. The sacrificing ratio is determined when:

#6. Profit or loss on revaluation is borne by ___.

#7. Excess of the credit side over the debit side of Revaluation account is:

#8. On the admission of a new partner ___.

#9. Reputation of business measured in terms of money is -

#10. Gain ratio is calculated at the time of ____ of partner.

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