Teaching Accountancy Partnership Accounts Question Bank MCQ - Partnership Accounts

  • question_answer
    Match the following    
    List I List II
    A. A new partner can be admitted with the consent of...... existing partners. 1. Current
    B. Increase in liability at the time of retirement is debited to ......account. 2. All
    C. Buying and selling is ......power of partners 3. Revaluation
    D. The ...... account of partner may have a debit or credit balance. 4. Implied
    Codes

    A)          A\[\to \]4, B\[\to \]1, C\[\to \]2, D\[\to \]3

    B)         A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1

    C)         A\[\to \]2, B\[\to \]4, C\[\to \]1, D\[\to \]3

    D)         A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1

    Correct Answer: D


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