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Free Online MCQs Questions of Class – 12 Accountancy Chapter 3 – Admission of Partner

Free Online MCQs Questions of CBSE Class 12 Accountancy Chapter 3 – Admission of Partner with Answers. Free Online MCQs Questions for Class 12 Accountancy with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Accountancy Chapter 3 – Admission of Partner Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Here you will find out MCQs related with the accounting treatment at the time of admission of a new partner. How new ratios are calculated? What will be treatment of Goodwill? If u want to do more practice on this topic, these MCQs are for you.

Free Online MCQs Questions of Class -12 Accountancy

Chapter 3 – Admission of Partner with Answers

  1. A new partner may be admitted into a partnership :
    1. With the consent of any one partner
    2. With the consent of majority of partners
    3. With the consent of all old partners
    4. With the consent of 2/3rd of old partners
  2. On the admission of a new partner :
    1. Old firm is dissolved
    2. Old partnership is dissolved
    3. Both old partnership and firm are dissolved
    4. Neither partnership nor firm is dissolved
  3. A and B are partners sharing profit in the ratio of 3 : 2. They admit C as a partner by giving him 1/3 share in future profits. The new ratio will be : (C.S. Foundation, Dec., 2012)
    1. 12 : 8 : 5
    2. 8: 12 : 5
    3. 5 : 5 : 12
    4. None of the Above
  4. 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:
    1. 9 : 6 : 5
    2. 19 : 11 : 10
    3. 3 : 3 : 2
    4. 3 : 2 : 4
  5. A and B share profits in the ratio of 2 : 1. C is admitted with 1/4 share in profits. C acquires 3/4 of his share from A and 1/4 of his share from B. The new ratio will be:
    1. 2 : 1 : 1
    2. 23 : 13 : 12
    3. 3 : 1 : 1
    4. 13 : 23 : 12
  6. B and N are partners in a firm sharing profits in the ratio of 3 : 2. They admit S as a partner for l/4th share in the profits. S acquires his share from B and N in the ratio of 2 : 1. The new profit-sharing ratio will be :
    1. 2:1:4
    2. 19:26: 15
    3. 3:2:4
    4. 26 : 19 : 15
  7. A and B are partners sharing profits and losses in the ratio of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B, The new profit sharing ratio will be :
    1. 13 : 7 : 4
    2. 7 : 13 : 4
    3. 7 : 5 : 6
    4. 5 : 7 : 6
  8. A and B share profits in the ratio of 3 : 2. They agreed to admit C on the condition that A will sacrifice 325th of his share of profit in favour of C and B will sacrifice 125th of his profits in favour of C. The new profit sharing ratio will be :
    1. 12 : 9:4
    2. 3 : 2 : 4
    3. 66 : 48 : 11
    4. 48 : 66 : 11
  9. A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C is admitted. A surrenders 1/15th share of his profit in favour of C and B surrenders 2/15th of his share in favour of C. The new ratio will be :
    1. 8 : 4 : 3
    2. 42 : 26 : 7
    3. 4 : 8 : 3
    4. 26 : 42 : 7
  10. A and B are partners in a business sharing profits and losses in the ratio of 7 : 3 respectively. They admit C as a new partner. A sacrificed 1/7th share of his profit and B sacrificed 1/3rd of his share in favour of C. The new profit sharing ratio of A, B and C will be : (C.S. Foundation, June, 2013)
    1. 3 : 1 : 1
    2. 2 : 1 : 1
    3. 2 : 2 : 1
    4. None of the above

MCQs Questions of CBSE Class 12 Accountancy Chapter 3 – Admission of Partner

Answer Key

  1. (C)    2. (B)    3. (D)   4. (B)   5. (B)   6. (D)    7. (A)   8. (C)    9. (B)   10. (A)

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