Financial and Management Accounting-Partnership Accounts [NTA-NET (UGC-NET) Commerce (08)]: Questions 6 - 9 of 15
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Question 6
Appeared in Year: 2005
Question MCQ▾
X, Y and Z are three partners sharing profits and losses in the ratio . A was admitted for share. The new profit sharing ratio will be:
Choices
Choice (4) | Response | |
---|---|---|
a. | ||
b. | ||
c. | ||
d. |
Question 7
Appeared in Year: 2018
Question MCQ▾
Which of the following is not a method of preparation of cash budget? (December)
Choices
Choice (4) | Response | |
---|---|---|
a. | Proforma Balance Sheet method | |
b. | Adjusted Net Income method | |
c. | Receipts and Payments method | |
d. | Cash Cycle method |
Question 8
Question MCQ▾
X and Y are partners in a firm sharing profits in the ratio of 2: 1. Z is admitted with a profit sharing. What will be the new profit sharing ratio of X, Y and Z?
Choices
Choice (4) | Response | |
---|---|---|
a. | 4: 2: 1 | |
b. | 1: 3: 4 | |
c. | 4: 2: 3 | |
d. | 3: 2: 1 |
Question 9
Appeared in Year: 2020
Question True-False▾
Statements
Partners are not bound to carry on the business of the firm to the greatest common advantage (17 October Evening Shift)
Where a partner is entitled to interest on capital subscribed by him, such interest shall be payable whether or not there are profits
An outgoing partner has a right to claim a share in the profits of the firm till his account is finally settled
A partner may be expelled from the firm only with the consent of all other partners
Choices
Choice (4) | Response | |
---|---|---|
a. | Only statement Ⅲ is true. | |
b. | Only statement Ⅰ is true. | |
c. | Statement Ⅰ, Ⅲ & Ⅳ are all true. | |
d. | Statement Ⅰ, Ⅱ & Ⅲ are all true. |