Teaching Accountancy Partnership Accounts Question Bank

done MCQ - Partnership Accounts Total Questions - 85

• question_answer1)
  In the absence of an agreement, the partners are not entitled to get this
  A)
   Profit and loss done clear
  B)
                      Interest of loan done clear
  C)
                      Salary done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer2)
  X and Y share profits and losses in the ratio of 3: 2. They admit Z for \[\frac{1}{2}th\]share in profit. The new ratio of distribution of profits will be
  A)
   \[3:2:1\]                                    done clear
  B)
   \[3:2:2\] done clear
  C)
                      \[4:1:1\]                                    done clear
  D)
   \[3:2:3\] done clear
  View Solution play_arrow

• question_answer3)
  A and B bring capital in the firm according to their profit sharing ratio, i.e. 2:3. If A brings ` 50000 as capital, what will be the B’s capital?
  A)
   ` 60000                                   done clear
  B)
   ` 70000 done clear
  C)
                      ` 72500                                   done clear
  D)
   ` 75000 done clear
  View Solution play_arrow

• question_answer4)
  A written agreement among partners for mutually conduct of business is called
  A)
   contract                                    done clear
  B)
   deed done clear
  C)
                      mutual consent                          done clear
  D)
   promissory note done clear
  View Solution play_arrow

• question_answer5)
  The method of valuation of goodwill is given in the
  A)
   agreement                                 done clear
  B)
   partnership deed done clear
  C)
                      Both  and                                 done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer6)
  An example of intangible asset is
  A)
   goodwill done clear
  B)
                      debit balance of profit and loss account done clear
  C)
                      preliminary expenses done clear
  D)
                      deferred revenue expenditure done clear
  View Solution play_arrow

• question_answer7)
  What is essential for the establishment of a partnership firm?
  A)
   An agreement among the partners done clear
  B)
                      Lawful business done clear
  C)
                      Consent of two or more persons done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer8)
  The minimum number of partners to constitute a partnership firm must be
  A)
   20                                            done clear
  B)
   10    done clear
  C)
                      7                                             done clear
  D)
   2 done clear
  View Solution play_arrow

• question_answer9)
  The maximum number of partners in any business can be
  A)
   7                                             done clear
  B)
   15 done clear
  C)
                      50                                            done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer10)
  Every partner is a
  A)
   proprietor or owner of the firm done clear
  B)
                      agent of the firm done clear
  C)
                      Both (a) and (b) done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer11)
  A partnership agreement may be
  A)
   oral                                                      done clear
  B)
                      written done clear
  C)
                      Either oral or written done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer12)
  Which of the following acts contains the rule as to the maximum number of partners in a firm?
  A)
   Indian Contract, Act done clear
  B)
                      Indian Partnership, Act done clear
  C)
                      Companies, Act                         done clear
  D)
                      Banking Companies Regulation, Act done clear
  View Solution play_arrow

• question_answer13)
  A partnership is created by
  A)
   registration                                done clear
  B)
   circumstances done clear
  C)
                      contract                                    done clear
  D)
   law of succession done clear
  View Solution play_arrow

• question_answer14)
  What is a sleeping partner?
  A)
   The partner who does not participate in operation of business of the firm done clear
  B)
                      The partner who has been retired from the firm done clear
  C)
                      The partner who does not demand the share of profit done clear
  D)
                      All of the above done clear
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• question_answer15)
  A firm is dissolved when
  A)
   the term is over done clear
  B)
                      on the death of partner done clear
  C)
                      on the retirement of a partner done clear
  D)
                      in the case of death of all but one partner done clear
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• question_answer16)
  J, K, L and M are equal partners. J, K and M died in a rail accident. The accident results into
  A)
   dissolution of firm done clear
  B)
                      dissolution of partnership done clear
  C)
                      Both (a) and (b) done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer17)
  Match the following

  List I		List II
  A.	Admission	1.	Gaining ratio
  B.	Retirement	2.	Equal ratio
  C.	Revaluation	3.	Sacrificing ratio
  D.	No partnership deed	4.	Old ratio

  Codes
  A)
           A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
  B)
          A\[\to \]2, B\[\to \]1, C\[\to \]4, D\[\to \]3 done clear
  C)
          A\[\to \]3, B\[\to \]4, C\[\to \]1, D\[\to \]2 done clear
  D)
          A\[\to \]3, B\[\to \]1, C\[\to \]4, D\[\to \]2 done clear
  View Solution play_arrow

• question_answer18)
  Match the following

  List I		List II
  A.	Partnership can be formed for that purpose of carrying.......	1.	Incoming partner
  B.	Guaranteed profit is generally given to.......	2.	business
  C.	Every partner is a joint ......of the partnership property.	3.	nominal
  D.	Partners, who do not contribute any capital and have no interest in the business are known as..... partners	4.	owner

  Codes
  A)
           A\[\to \]2, B\[\to \]1, C\[\to \]4, D\[\to \]3 done clear
  B)
          A\[\to \]2, B\[\to \]4, C\[\to \]1, D\[\to \]3 done clear
  C)
          A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
  D)
          A\[\to \]4, B\[\to \]1, C\[\to \]2, D\[\to \]3 done clear
  View Solution play_arrow

• question_answer19)
  Match the following

  List I		List II
  A.	Super profit method	1.	6%
  B.	Revoluation account is prepared at the time of	2.	Goodwill
  C.	Interest on loan	3.	Admission of a partner

  Codes                       
  A)
                                   A\[\to \]2, B\[\to \]3, C\[\to \]1 done clear
  B)
                      A\[\to \]3, B\[\to \]1, C\[\to \]2 done clear
  C)
                      A\[\to \]1, B\[\to \]2, C\[\to \]3 done clear
  D)
                      A\[\to \]3, B\[\to \]2, C\[\to \]1   done clear
  View Solution play_arrow

• question_answer20)
          A retired partner continues to be liable towards third party
  A)
   if he does not give a public notice to this effect done clear
  B)
                      if he has not cleared dues of the firm done clear
  C)
                      if only three months have passed after his retirement done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer21)
  R, M and P are partners. P dies in an accident. It results into
  A)
   Dissolution of the firm done clear
  B)
                      Dissolution of partnership done clear
  C)
                      Both (a) and (b) done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer22)
  Rate of interest for a partner on his debt account in the absence of a deed is
  A)
   3%                                           done clear
  B)
   6% done clear
  C)
                      9%                                           done clear
  D)
   12% done clear
  View Solution play_arrow

• question_answer23)
  Limited partnership means
  A)
   Limited capital of partners done clear
  B)
                      Limited number of partners done clear
  C)
                      Liabilities of some partners are limited done clear
  D)
                      limited liabilities of all the partners done clear
  View Solution play_arrow

• question_answer24)
  Under partnership business, a partner can transfer his interest
  A)
   Voluntarily done clear
  B)
                      With the consent of other partners done clear
  C)
                      Under the pressure of other partners done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer25)
  If a partnership firm is not registered, then
  A)
   firm cannot file a case against any partner done clear
  B)
                      no partner can file a case against firm done clear
  C)
                      no partner can file a case against any other partner done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer26)
  Partnership firm is in existence only on
  A)
   the will of partnership done clear
  B)
                      the will of management done clear
  C)
                      Both  and   done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer27)
  Partnership ends with issuing information in this regard when
  A)
   there is no objective for such partnership done clear
  B)
                      partnership is based purely on will done clear
  C)
                      partnership is for a limited period done clear
  D)
                      the period of partnership is definite done clear
  View Solution play_arrow

• question_answer28)
  Partnership for a specific purpose is known as
  A)
   general partnership done clear
  B)
                      specific partnership done clear
  C)
                      voluntary partnership done clear
  D)
                      limited partnership done clear
  View Solution play_arrow

• question_answer29)
  A group of 20 persons doing business without any registration, then it will be called
  A)
   partnership                                done clear
  B)
   public company done clear
  C)
                      private company                        done clear
  D)
   illegal association done clear
  View Solution play_arrow

• question_answer30)
  A partner having no stocks in the firm is known as
  A)
   inactive partner                          done clear
  B)
   nominal partner done clear
  C)
                      minor partner                            done clear
  D)
   actual partner done clear
  View Solution play_arrow

• question_answer31)
  Partner and firm are mutually related
  A)
   Management                             done clear
  B)
   servant done clear
  C)
                      Agent                                       done clear
  D)
   shareholder done clear
  View Solution play_arrow

• question_answer32)
  Indian Partnership, Act was passed in
  A)
   1956                                        done clear
  B)
   1957 done clear
  C)
                      1932 done clear
  D)
   1872 done clear
  View Solution play_arrow

• question_answer33)
  A partnership is an association of two or more persons formed to carry on business together for the purpose of
  A)
   earning profit done clear
  B)
                      rendering service to the society done clear
  C)
                      discharging social responsibility done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer34)
  Who can become the member of a partnership firm?
  A)
   A company done clear
  B)
                      An individual done clear
  C)
                      A joint Hindu family firm done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer35)
  Who cannot become a partner in the firm?
  A)
   A minor                                    done clear
  B)
   A married woman done clear
  C)
                      A lunatic                                   done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer36)
  A partnership legally not recognised in India is
  A)
   general partnership done clear
  B)
                      specific partnership done clear
  C)
                      limited partnership done clear
  D)
                      voluntary partnership done clear
  View Solution play_arrow

• question_answer37)
  Which of the following statements is incorrect?
  A)
   Firm is dissolved, partnership remains intact done clear
  B)
                      Partnership is dissolved, firm remains intact done clear
  C)
                      Partnership is dissolved, firm is also dissolved done clear
  D)
                      Consent of all the partners for dissolution of the firm is not necessary done clear
  View Solution play_arrow

• question_answer38)
  A minor in a firm
  A)
   cannot be made a partner done clear
  B)
                      can be made a partner with the consent of his parents done clear
  C)
                      can be made a partner as adults are made done clear
  D)
                      can be made a partner only if it is mentioned in the contract done clear
  View Solution play_arrow

• question_answer39)
  Profit sharing is ...... characteristic of partnership.
  A)
   an essential                               done clear
  B)
   the only objective done clear
  C)
                      a final result                              done clear
  D)
   not well defined done clear
  View Solution play_arrow

• question_answer40)
  In the absence of partnership deed, profit and loss is shared
  A)
   in proportion to capital contributed done clear
  B)
                      equally among all the partners done clear
  C)
                      in proportion functional participation in day-to-day operation done clear
  D)
                      not well defined done clear
  View Solution play_arrow

• question_answer41)
  In unregistered partnership, firm is
  A)
   an illegal association done clear
  B)
                      can do business after paying the penalty done clear
  C)
                      can do business only after taking special permission done clear
  D)
                      can do business under certain bindings done clear
  View Solution play_arrow

• question_answer42)
  A partnership firm arranges capital
  A)
   through floating share in the market done clear
  B)
                      through floating debentures in the capital market done clear
  C)
                      through mutually employed capital done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer43)
  Which of the following factor does not include in a partnership firm?
  A)
   Confidentiality done clear
  B)
                      Individual management done clear
  C)
                      Continuous existence done clear
  D)
                      Unlimited liabilities done clear
  View Solution play_arrow

• question_answer44)
  A partnership firm can be registered at
  A)
   the time of establishment done clear
  B)
                      the time of separation of a partner done clear
  C)
                      within the year of commencement of the business done clear
  D)
                      any time after the establishment of the firm done clear
  View Solution play_arrow

• question_answer45)
  The partner of unregistered firm does not have a right to        
  A)
   share in profit of the firm           done clear
  B)
                      participate in the business of the firm done clear
  C)
                      demand accounts after the dissolution of the firm done clear
  D)
   file a suit against this party on behalf of the firm done clear
  View Solution play_arrow

• question_answer46)
  In the realisation account prepared on the dissolution of a firm, if debit side is more than the credit side, then it indicates
  A)
   profit done clear
  B)
                      loss done clear
  C)
                      liabilities are mere than assets done clear
  D)
                      assets are more than liabilities done clear
  View Solution play_arrow

• question_answer47)
  In the absence of an agreement to the contrary, it is implied that old partners will contribute to new partner’s share of profit in the ratio of
  A)
   capital done clear
  B)
                      old profit sharing ratio done clear
  C)
                      sacrificing ratio done clear
  D)
                      equal proportion done clear
  View Solution play_arrow

• question_answer48)
  In partnership, aim of a joint life policy is to
  A)
   make profit on the death of a partner done clear
  B)
                      make sufficient cash available to settle the claims of heirs of the deceased partner done clear
  C)
                      strengthen the financial position of the firm done clear
  D)
                      None or the above done clear
  View Solution play_arrow

• question_answer49)
  New profit sharing ratio is calculated at the time of
  A)
   admission of a partner                done clear
  B)
                      retirement of a partner done clear
  C)
                      death of a partner done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer50)
  Sacrificing ratio is used at the time of
  A)
   admission of a partner done clear
  B)
                      retirement of a partner done clear
  C)
                      death of a partner done clear
  D)
                      dissolution of firm done clear
  View Solution play_arrow

• question_answer51)
  On dissolution, all assets are transferred to realization account at
  A)
   book value done clear
  B)
                      market value done clear
  C)
                      cost or market value, whichever is less done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer52)
  Provision for bad and doubtful debts appearing in the books at the time of dissolution of firm is transferred to
  A)
   capital accounts of the partners done clear
  B)
                      debtors account done clear
  C)
                      bad debts account done clear
  D)
                      realisation account done clear
  View Solution play_arrow

• question_answer53)
  A and B axe partners in the ratio of 2:1. They admit C for 1/4th share who contributes ` 3000 for this share of goodwill. The total value of goodwill of the firm is
  A)
   ` 3000                                     done clear
  B)
   ` 12000 done clear
  C)
                      ` 9000                                     done clear
  D)
   ` 15000 done clear
  View Solution play_arrow

• question_answer54)
  A and B are partners in a firm, sharing profits in the ratio of 3:2. They admit X as a partner of 1/3rd share in the profits of the firm. The new profit sharing ratio of A, B and X is
  A)
   3: 2: 1                                      done clear
  B)
   3: 2: 3 done clear
  C)
                      3: 2: 2                                      done clear
  D)
   6: 4: 5 done clear
  View Solution play_arrow

• question_answer55)
  A and B are partners sharing profits in the ratio of 7:3. X was admitted on 3/7 share in the profits, the new profit sharing ratio of the partners will be
  A)
   14:6: 15                                   done clear
  B)
   7:3:3 done clear
  C)
                      7: 6: 7                                      done clear
  D)
   5: 3: 3 done clear
  View Solution play_arrow

• question_answer56)
  Partner’s current accounts are opened when their capital accounts are
  A)
   fixed                                        done clear
  B)
   fluctuating done clear
  C)
                      Both (a) and (b) done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer57)
  Realisation account is a
  A)
   Personal account                       done clear
  B)
   nominal account done clear
  C)
                      Real account                             done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer58)
  “Goodwill is nothing more than the probability that the old customers will resort to the old place”. Who states this statement?
  A)
   Dicksee                                     done clear
  B)
   Lord Macnaghten done clear
  C)
                      Lord Eldon                                done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer59)
  Gaining ratio can be calculated as
  A)
   New Ratio - Old Ratio done clear
  B)
                      Old Ratio - New Ratio done clear
  C)
                      New Ratio + Old Ratio done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer60)
  The agreement may be
  A)
   express                                     done clear
  B)
   implied done clear
  C)
                      Both (a) and (b) done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer61)
  In case of partnership, partner is
  A)
   an agent                                   done clear
  B)
   the principal done clear
  C)
                      Both (a) and (b) done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer62)
  The business of the firm may be carried on by
  A)
   all partners done clear
  B)
                      any one of them acting for all done clear
  C)
                      Both (a) and (b) done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer63)
  All the partners of a partnership firm
  A)
   have unlimited liability done clear
  B)
                      are jointly liable for the firms’ debts done clear
  C)
                      are severally liable for the firms’ obligations done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer64)
  A partner can transfer, his proprietory interest
  A)
   with the unanimous consent of other partners done clear
  B)
                      under the influence of other partners done clear
  C)
   independently done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer65)
  Which of the following statements is incorrect?
  A)
   Every partner can represent the firm done clear
  B)
                      Every partner has unlimited liability done clear
  C)
                      Registration of a partnership firm is compulsory                done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer66)
  The balance of the current account of a partner is shown in
  A)
   trading account                          done clear
  B)
   balance sheet done clear
  C)
                      income statement                       done clear
  D)
   All of the above done clear
  View Solution play_arrow

• question_answer67)
  A and B are partners sharing profits and losses in the ratio of 2:1. They admit a new partner C whom they give 1/6th share in profits. Their new profit sharing ratio is
  A)
   10:5:3                                      done clear
  B)
   2:10:5 done clear
  C)
                      10:3:5                                      done clear
  D)
   3:10:2 done clear
  View Solution play_arrow

• question_answer68)
  Only a notice of this effect is sufficient for dissolution of the partnership if
  A)
   Partnership is for a limited period done clear
  B)
                      Partnership is not for a limited period done clear
  C)
                      Partnership is at will done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer69)
  R, M and P are partners. P dies in an accident. Now
  A)
   the firm would be dissolved done clear
  B)
                      the partnership would be dissolved done clear
  C)
                      Both (a) and (b) done clear
  D)
                      None of the above done clear
  View Solution play_arrow

• question_answer70)
  Limited partnership means
  A)
   number of partners is limited done clear
  B)
                      liability of some partners is limited done clear
  C)
                      liability of all partners is limited done clear
  D)
                      limited amount of capital can be raised done clear
  View Solution play_arrow

• question_answer71)
  A manager of a firm is given 1/4th share in profit. He is a
  A)
   partner by operation of law         done clear
  B)
                      partner by implied agreement done clear
  C)
                      partner by status done clear
  D)
                      servant of the firm done clear
  View Solution play_arrow

• question_answer72)
  If the partnership deed is silent on a certain point, the rules as contained in Section ......to.....of the Indian Partnership Act, 1932 apply.
  A)
   12 to 17                                   done clear
  B)
   16 to19 done clear
  C)
                      19 to 21                                   done clear
  D)
   12 to 15 done clear
  View Solution play_arrow

• question_answer73)
  The partnership in which there is no agreement among the partners as to its duration is called.
  A)
   partnership for a fixed period done clear
  B)
                      partnership at will done clear
  C)
                      particular partnership done clear
  D)
                      All of the above done clear
  View Solution play_arrow

• question_answer74)
  ‘Partnership for a fixed period’ automatically comes to an end after
  A)
   the partners agreed done clear
  B)
                      the expiry of that period done clear
  C)
                      the permission of the court granted done clear
  D)
                      All of the above done clear
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• question_answer75)
  Particular partnership is a.................. partnership.
  A)
   permanent                                done clear
  B)
   incidental done clear
  C)
                      temporary                                 done clear
  D)
   accidental done clear
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• question_answer76)
  The net profit shown by profit and loss account is transferred to
  A)
   profit and loss appropriation account done clear
  B)
                      trading account done clear
  C)
                      balance sheet done clear
  D)
                      income statement done clear
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• question_answer77)
  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 1/5th share of his profit in favour of C and B surrenders 2/5th of his share in favour of C. Their new profit sharing ratio is
  A)
   5:4:3                                        done clear
  B)
   5:5:2 done clear
  C)
                      2: 1: 1                                      done clear
  D)
   12:6:7 done clear
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• question_answer78)
  When two or more existing companies go into liquidation and a new company is formed to take over their business, it is known as
  A)
   Amalgamation                           done clear
  B)
   liquidation done clear
  C)
                      Reconstruction                           done clear
  D)
   cartel done clear
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• question_answer79)
  Match the following

  List I		List II
  A.	At the beginning of each month	1.	5 and 1/2 month
  B.	At the end of each month	2.	6 and 1/2 month
  C.	At the beginning of each quarter	3.	4 and 1/2 month
  D.	At the end of each quarter	4.	7 and 1/2 month

  Codes
  A)
           A\[\to \]2, B\[\to \]1, C\[\to \]4, D\[\to \]3 done clear
  B)
          A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
  C)
          A\[\to \]4, B\[\to \]3, C\[\to \]1, D\[\to \]2 done clear
  D)
          A\[\to \]3, B\[\to \]4, C\[\to \]1, D\[\to \]2 done clear
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• question_answer80)
  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 done clear
  B)
          A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1 done clear
  C)
          A\[\to \]2, B\[\to \]4, C\[\to \]1, D\[\to \]3 done clear
  D)
          A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1 done clear
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• question_answer81)
  Match the following

  List I		List II
  A.	Interest on partners capital is chargeable to the extent of available .	1.	Competing
  B.	The amount due to the retiring partner can be made by...... payment method.	2.	Mutual
  C.	A partner must not carry on a ...... business.	3.	Profit
  D.	Partners are mutual......for each other.	4.	Lump-sum

  Codes
  A)
           A\[\to \]4, B\[\to \]3, C\[\to \]1, D\[\to \]2 done clear
  B)
          A\[\to \]3, B\[\to \]4, C\[\to \]1, D\[\to \]2 done clear
  C)
          A\[\to \]3, B\[\to \]4, C\[\to \]2, D\[\to \]1 done clear
  D)
          A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
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• question_answer82)
  Which of the following is not the purpose of admission of a partner?
  A)
   For procuring additional capital done clear
  B)
          For acquiring additional managerial skill         done clear
  C)
          For progress of the firm done clear
  D)
          For increasing competition done clear
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• question_answer83)

  Arrange the steps of adjustment of partners capital on the admission of a new partner in sequence.

  1. Calculate the adjusted capital of old partners.

  2. Calculate the proportionate capital of new partner.

  3. All adjustments should be made.

  4. Calculate the total capital of new firm.

  Codes
  A)
           3, 1, 4, 2                      done clear
  B)
   3, 4, 1, 2     done clear
  C)
          4, 3, 2, 1                      done clear
  D)
   3, 4, 2, 1 done clear
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• question_answer84)
  Match the following

  List I		List II
  A.	......is difference between old ratio and new ratio.	1.	Dissolution
  B.	Dissolution of partnership among all the partners of firm is called ...... of firm.	2.	Admitted
  C.	A minor can be ...... to the benefits	3.	Duties
  D.	Every partner is bound to attend diligently to his.....	4.	Sacrificing ratio

  Codes
  A)
           A\[\to \]4, B\[\to \]3, C\[\to \]1, D\[\to \]2 done clear
  B)
          A\[\to \]4, B\[\to \]1, C\[\to \]2, D\[\to \]3 done clear
  C)
          A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
  D)
          A\[\to \]3, B\[\to \]4, C\[\to \]1, D\[\to \]2 done clear
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• question_answer85)
    Match the following

  List I		List II
  A.	Reserves must be transferred in the ..	1.	Goodwill
  B.	A firm is dissolved, when the business of the firm is declared.......	2.	Interest on loan
  C.	......should be compulsory revalued at the time of admission.	3.	Old profit sharing ratio
  D.	In the absence of an agreement partners are entitled to.	4.	Illegal

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