Thursday, July 16, 2020
Wednesday, July 15, 2020
ONLINE MCQ FOR BUSINESS STUDY WITH SCORES LESSON 06 STAFFING
COMMERCE TEACHERS FORUM DELHI FORM A ONLINE MCQ FOR STUDENTS OF XII (COMMERCE) FOR BUSINESS STUDY .
LESSON - 06 SUBJECT : STAFFING
Sunday, July 28, 2019
Series -5 Objective Type Question / MCQs with Answer by CA. (Dr.) G. S. GREWAL posted on Whatsapp Group
CA. (Dr.) G. S. GREWAL
Objective Type Question / MCQs
posted on Whatsapp Group
Question Series 5
*True/False *
1. The claim of Workmen Compensation is less than Workmen Compensation Reserve at the time of admission of a partner. The difference is Workmen Compensation Reserve and claim will be transferred to Capital Accounts of the old partners in their old profit sharing ratio.
*Fill in the Blank *
2. If book value and the market value of investment is same, Investment Fluctuation Reserve at the time of Admission of a Partner, is distributed among _____ in their _______.
Multiple Choice Question
3. A, B and C are partners sharing profits and losses in the ratio 6 : 3 : 3, they agreed to take D, as new partner with 1/8th Share of profits. The new profit sharing ratio will be:
(a) 14 : 7 : 7 : 4
(b) 1 : 1 : 1 : 1
(c) 12 : 27 : 36 : 42
(d) 12 : 36 : 27 : 42.
1. The claim of Workmen Compensation is less than Workmen Compensation Reserve at the time of admission of a partner. The difference is Workmen Compensation Reserve and claim will be transferred to Capital Accounts of the old partners in their old profit sharing ratio.
*Fill in the Blank *
2. If book value and the market value of investment is same, Investment Fluctuation Reserve at the time of Admission of a Partner, is distributed among _____ in their _______.
Multiple Choice Question
3. A, B and C are partners sharing profits and losses in the ratio 6 : 3 : 3, they agreed to take D, as new partner with 1/8th Share of profits. The new profit sharing ratio will be:
(a) 14 : 7 : 7 : 4
(b) 1 : 1 : 1 : 1
(c) 12 : 27 : 36 : 42
(d) 12 : 36 : 27 : 42.
Answer – Question Series 5
Fill in the Blanks: -
1. * Partner’s Capital, Old Profit Sharing *
True / False: -
2. * True *
Reason: If claim is more than reserve then for the deficit Revaluation Account is debited.
Multiple Choice Questions: -
3. * a *
Reason: - As D is admitted for a share of 1/8th, therefore the remaining share of 7/8th will be shared by the old partner’s, in the ratio 6 : 3 : 3, and the new ratio will be 14 : 7 : 7 : 4.
1. * Partner’s Capital, Old Profit Sharing *
True / False: -
2. * True *
Reason: If claim is more than reserve then for the deficit Revaluation Account is debited.
Multiple Choice Questions: -
3. * a *
Reason: - As D is admitted for a share of 1/8th, therefore the remaining share of 7/8th will be shared by the old partner’s, in the ratio 6 : 3 : 3, and the new ratio will be 14 : 7 : 7 : 4.
Series -4 Objective Type Question / MCQs with Answer by CA. (Dr.) G. S. GREWAL posted on Whatsapp Group
CA. (Dr.) G. S. GREWAL
Objective Type Question / MCQs
posted on Whatsapp Group
Question Series 4
Fill in the Blanks: -
1. Partners may or may not have written ________.
True / False
2. Partnership is the relation between persons who have agreed to share profits of a business carried on by all or any of them acting for all.
Multiple Choice Question
3. In case partners have guaranteed profit to a partner and deficiency of profit. The deficiency happens it is borne by
(a) All the partners in new profit sharing ratio
(b) Remaining partners in the ratio in which they have given guarantee
(c) All the partners in sacrificing ratio.
(d) All the partners in old profit sharing ratio.
1. Partners may or may not have written ________.
True / False
2. Partnership is the relation between persons who have agreed to share profits of a business carried on by all or any of them acting for all.
Multiple Choice Question
3. In case partners have guaranteed profit to a partner and deficiency of profit. The deficiency happens it is borne by
(a) All the partners in new profit sharing ratio
(b) Remaining partners in the ratio in which they have given guarantee
(c) All the partners in sacrificing ratio.
(d) All the partners in old profit sharing ratio.
Answer – Question Series 4
Fill in the Blank
1. Partnership Deed
True / False
2. * True *
Reason It is one of the essential characteristic of Partnership that it is a relation between persons who have agreed to share profits of business carried on by all or any of them acting for all.
Multiple Choice Question
3. * b *
Reason The Partners have an agreement with the other partner to give him a minimum profit. The deficiency thus, will be borne by the guaranteeing partner in the ratio in which they have guaranteed the minimum profit. If the ratio of guarantee is not given, they will share the deficiency in their profit – sharing ratio.
1. Partnership Deed
True / False
2. * True *
Reason It is one of the essential characteristic of Partnership that it is a relation between persons who have agreed to share profits of business carried on by all or any of them acting for all.
Multiple Choice Question
3. * b *
Reason The Partners have an agreement with the other partner to give him a minimum profit. The deficiency thus, will be borne by the guaranteeing partner in the ratio in which they have guaranteed the minimum profit. If the ratio of guarantee is not given, they will share the deficiency in their profit – sharing ratio.
