Read and download free pdf of CBSE Class 12 Accountancy Change In Profit Sharing Ratio Worksheet Set A. Students and teachers of Class 12 Accountancy can get free printable Worksheets for Class 12 Accountancy in PDF format prepared as per the latest syllabus and examination pattern in your schools. Standard 12 students should practice questions and answers given here for Accountancy in Grade 12 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 12 Accountancy Worksheets prepared by school teachers as per the latest NCERT, CBSE, KVS books and syllabus issued this academic year and solve important problems with solutions on daily basis to get more score in school exams and tests
Worksheet for Class 12 Accountancy Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner
Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner in standard 12. This test paper with questions and answers for Grade 12 Accountancy will be very useful for exams and help you to score good marks
Class 12 Accountancy Worksheet for Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner
CBSE Class 12 Accountancy Change in profit sharing ratio. CBSE issues sample papers every year for students for class 12 board exams. Students should solve the CBSE issued sample papers to understand the pattern of the question paper which will come in class 12 board exams this year. The sample papers have been provided with marking scheme. It’s always recommended to practice as many CBSE sample papers as possible before the board examinations. Sample papers should be always practiced in examination condition at home or school and the student should show the answers to teachers for checking or compare with the answers provided. Students can download the sample papers in pdf format free and score better marks in examinations. Refer to other links too for latest sample papers.
Question. On the admission of a new partner, increase in the value of assets is debited to
(a) Revaluation A/c
(b) Profit & Loss Account
(c) Assets Account
(d) None of the options
Answer: C
Question. X and Y shares profits in the ratio of 2:3, how they decided to share profits equally in the future, Which partner will sacrifice and in which ratio
(a) Y Sacrifice 1/10
(b) X Sacrifice 1/10
(c) Both
(d) None of the options
Answer: A
Question. Change in partnership agreement
(a) Results in end of partnership business
(b) Changes in the relationship among the partner
(c) Dissolved the partnership firm
(d) None of the options
Answer: B
Question. If the incoming partner is to bring in premium for goodwill in cash and also a balance exists in the goodwill account, then this goodwill account is written of among the old partners in
(a) The old profit sharing ratio
(b) The new profit sharing ratio
(c) The sacrificing ratio
(d) None of the options
Answer: A
Question. Revaluation account or Profit & loss adjustment account is
(a) Real Account
(b) Personal Account
(c) Nominal Account
(d) None of the options
Answer: C
Question. The ratio in which the continuing partners acquire the outgoing partners share is called
(a) Gaining Ratio
(b) New Profit sharing ratio
(c) Old Profit sharing ratio
(d) None of the options
Answer: A
Question. In the event of death of a partner, the amount of general reserve is transferred to partners capital accounts in
(a) The new profit sharing ratio
(b) the capital ratio
(c) None of the options
(d) The old profit sharing ratio
Answer: D
Question. The partners whose share Increase as a result of change in profit sharing ratio are known as
(a) Sacrificing Partners
(b) Sleeping Partners
(c) Gaining Partners
(d) None of the options
Answer: C
Question. Z is admitted to a firm for 1/4 share in the profits for which he brings in Rs. 10000towards premium for goodwill, it will be taken by the old partners in
(a) The Sacrificing ratio
(b) The old Profit sharing ratio
(c) The new profit sharing ratio
(d) None of the options
Answer: A
Question. X and Y are partners sharing profits in the ratio of 2:1, they admit Z into the partnership for 1/4th share in profits for which brings in Rs. 20000 as his share of capital. Hence the adjusted capital of X and Y will be
(a) 32000 and 16000 respectively
(b) 40000 and 20000 Rs. Respectively
(c) 60000 and 30000 Rs. Respectively
(d) None of the options
Answer: B
Question. When goodwill is withdrawn by old partners ________________ a/c is credited.
(a) cash/bank
(b) capital
(c) revaluation
(d) Profit and Loss Adjustment
Answer: A
Question. Jay, Vijay and Ajay are three partners sharing profits in 3:2:1. They decided to admit Sanjay and give him 1/7th share, new profit sharing ratio of partners will be _____.
(a) equal
(b) 3:2:1:2
(c) 3:2:1:1
(d) 2:3:1:2
Answer: C
Question. If any asset is taken over by partner from the firm _________________ account will be debited.
(a) revaluation
(b) asset
(c) Profit and Loss Adjustment
(d) capital
Answer: D
Question. Excess of proportionate capital over actual capital represents.......................
(a) Equal capital
(b) Surplus Capital
(c) Deficit Capital
(d) Gain
Answer: C
Question. A firm is reconstituted , whenever there is a
(a) All of the options
(b) Retirement of Existing Partner
(c) Death of a partner
(d) Admission of a new partner
Answer: A
Question. The _________ ratio is useful for making adjustment for goodwill among the old partners.
(a) new
(b) sacrifice
(c) old
(d) Profit and Loss Adjustment
Answer: B
Question. Decrease in the value of Liabilities on reconstitution of the partnership firm results into
(a) Gain to the Existing Partner
(b) Loss to the Existing Partner
(c) Neither Gain of loss to Existing partner
(d) None of the options
Answer: A
Question. In case of admission of a partner, the profit or loss on revaluation of assets and liabilities is shared by _________partners.
(a) all
(b) old
(c) new
(d) none of these
Answer: B
Question. Profit & loss adjustment account, which
(a) Both
(b) Increase value of the assets
(c) Decrease Value of Liabilities
(d) None of the options
Answer: A
Question. Account is debited when unrecorded liability is brought into business.
(a) liability
(b) revaluation
(c) capital
(d) current
Answer: B
(i) it is an intangible asset having a definite value.
Answer: Rs. 45,000
Please click the link below to download full pdf file for CBSE Class 12 Accountancy Change in profit sharing ratio.
| CBSE Class 12 Accountancy Accounting for Not-for-Profit Organisation Worksheet |
| CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set A |
| CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set B |
| CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set C |
| CBSE Class 12 Accountancy Debentures Worksheet |
| CBSE Class 12 Accountancy Financial Statements Of Company Worksheet Set A |
| CBSE Class 12 Accountancy Financial Statements Of Company Worksheet Set B |
| CBSE Class 12 Accountancy Analysis Of Financial Statements Worksheet |
| CBSE Class 12 Accountancy Financial Analysis And Tools For Financial Analysis Worksheet |
| CBSE Class 12 Accountancy Ratio Analysis Worksheet |
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CBSE Class 12 Accountancy Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner Worksheet
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Worksheet for Accountancy CBSE Class 12 Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner
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Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner worksheet Accountancy CBSE Class 12
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Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner CBSE Class 12 Accountancy Worksheet
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Worksheet for CBSE Accountancy Class 12 Part 1 Chapter 3 Reconstitution of a Partnership Firm Admission of a Partner
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