NCERT
- Gaining Ratio = __ (a) New Ratio – Old Ratio (b) Old Ratio – New Ratio (c) New Ratio + Old Ratio (a) New Ratio – Old Ratio 2
- Sacrifice Ratio = _ (a) New Ratio – Old Ratio (b) Old Ratio – New Ratio (c) New Ratio + Old Ratio (b) Old Ratio – New Ratio 2
- __ profit is excess of actual profits over normal profits. (a) Net (b) Average (c) Super (d) Appropriated (c) Super Super profit is excess of actual profits over normal profits. 1
- Value of reputation of the firm is: (a) Royalty (b) Assets (c) Goodwill (d) Patents (c) Goodwill 2
- Goodwill is an _ Assets. (a) fixed (b) intangible (c) current (d) fictitious (b) intangible 2
- When the new partner brings cash for goodwill, the amount is credited to: (c) Premium for Goodwill Account 2
- Any change in the relationship of existing partners which results at an end of the existing agreement (b) Reconstitution of partnership 2
- A and B are partners sharing profits in the ratio of 4 : 3. They admitted C as a new partner who gets 1/5th (C) 13 :15:7 2
- A and B are partners in a firm sharing profits and losses in the ratio of 2 : 3. C is admitted for 1/5 share (D) 1 : 3 : 1 2
- A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C (B) 42 : 26 : 7 2
- A and B share profits in the ratio of 3 : 2. They agreed to admit C on the condition (C) 66 : 48 : 11 2
- A and B are partners sharing profits and losses in the ratio of 7 : 5. They agree to admit C, their manager, (A) 13 : 7 : 4 2
- B and N are partners in a firm sharing profits in the ratio of 3:2 (D) 26 : 19 : 15 2
- 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 (B) 23 : 13 : 12 2
- X and Y are partners sharing profit in the ratio of 3 : 2. Z was admitted with 1/4 share in profits (B) 19 : 11 : 10 2
- liability of Partners is : (a) Limited (b) Unlimited (c) Determined by partnerships Account (d) None of these b) Unlimited 2
- The relation of partners with the firm is that of: (a) An owner (b) An Agent (c) An owner and an agent (d) Manager (c) An owner and an agent 2
- Interest on drawings of the Partners is a : (a) Loss to business (b) Profit to business 2
- Calculate interest on drawings @ 12% p.a. for Gambhir if he withdrew 7 2,000 once at the beginning of each month: (a) 7 1,560 correct is a 2
- Interest on Partner’s capital is : (a) An expenditure (b) An appropriation (c) A gain (d) None of these (b) An appropriation 2
- X, Y and Z are partners sharing profits and losses equally. Their capital balances on March Answer: (C) X — ₹1,00,000; Y — ₹75,000; Z — ₹50,000 The liability of partners in a partnership firm is unlimited. If the firm's assets are n... 1
- Which one of the following is NOT an essential feature of a partnership? (D) The business must be carried on by all the partners 2
- Liability of partner is : (A) Limited (B) Unlimited (C) Determined by Court (D) Determined by Partnership Act (B) Unlimited 2
- Number of partners in a partnership firm may be: (D) Maximum Fifty 2