CBSE  /  Class 12  /  Accountancy  /  Reconstitution of Partnership Firm: Retirement / Death of a Partner

  • 1. 
    On retirement of a partner’s the amount of General Reserve is transferred to all partner’s capital account in:

  • New Profit Sharing Ratio
  • Capital Ratio
  • Old Profit Sharing Ratio
  • None of these

  • 2. 
    X, Y and Z were partners sharing profits in the ratio of 5 : 3 : Goodwill does not appear in the books but it is agreed to be worth 1,00,000 Rs.. X retires from the firm and Y and Z decide to share profits equally. X’s share of goodwill will be debited to Y’s and Z’s Capital A/cs in………ratio:

  • \(\frac{1}{2}: \frac{1}{2}\)
  • 2 : 3
  • 3 : 2
  • None of these

  • 3. 
    x,y are z are partners and share profits in the ratio of 5 : 3 : 2. y retires and x takes 1/10 from y and z takes 1/5 from y. The new profit sharing ratio will be :

  • 7 : 13
  • 13 : 7
  • 3 : 2
  • 1 : 1

  • 4. 
    The old profit-sharing ratio among Rajender, Satish and Tejpal were 2 : 2 : 1. The new profit-sharing ratio after Satish’s retirement is 3 : 2. The gaining ratio is :

  • 3 : 2
  • 2 : 1
  • 1 : 1
  • 2 : 3

  • 5. 
    The amount due to the deceased partner is paid to his………. (a) Father

  • 6. 
    In case of death of a partner, the whole amount standing to the credit of his capital account is transferred to :

  • Capital Accounts of all partners
  • Capital Accounts of remaining partners
  • His Executor’s Account
  • Account of the Government

  • 7. 
    On the death of a partner in a firm payments are made to;

  • Capital A/c
  • Executor’s A/c
  • Current A/c
  • Loan A/c

  • 8. 
    X, Y and Z share profits in the ratio of \(\frac{1}{2}: \frac{1}{3}: \frac{1}{6}, \mathbf{Z}\) dies. New ratio of X and Y will be :

  • 3 : 2. (b) 2 : 3

  • 9. 
    The executors of deceased partner will be paid interest on the amount due from the date of death of the partner at:

  • 5% p.a. (b) 6% p.a. (c) 7% p.a. (d) 8% p.a.

  • 10. 
    In the event of death of a partner, the accumulated profits and losses are shared by the partners in their:

  • Old Profit-sharing Ratio
  • New Profit-sharing Ratio
  • Capital Ratio
  • None of these
Report Question
warning
Practice More On Reconstitution of Partnership Firm: Retirement / Death of a Partner
Quiz 1 Quiz 2 Quiz 3 Quiz 4 Quiz 5 Quiz 6
access_time
  Time