Take a quick Multiple Choice Questions (MCQs) test about Retirement and death of a partner. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start retirement and death of a partner MCQs quiz.
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Retirement and death of a partner mcqs
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Question 1 of 8
1. Question
The partnership may cam to an end due to the:
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Your answer is incorrect. The correct answer is “Both of the above” (option 3).
Question 2 of 8
2. Question
Revaluation account is operated to find out gain or loss at the time of:
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Your answer is incorrect. The correct answer is “All of above” (option 4).
Question 3 of 8
3. Question
Partner’s equity is affected due to:
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Your answer is incorrect. The correct answer is “All of above” (option 4).
Question 4 of 8
4. Question
The accounting procedure at the retirement of a partner involves:
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Incorrect
Your answer is incorrect. The correct answer is “Revaluation of assets and liabilities” (option 1).
Question 5 of 8
5. Question
if the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement is:
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Your answer is incorrect. The correct answer is “Necessary” (option 1).
Question 6 of 8
6. Question
An account operated to ascertain the loss or gain at the death of a partner is called:
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Your answer is incorrect. The correct answer is “Revaluation account” (option 2).
Question 7 of 8
7. Question
Amount due to outgoing partner is shown on the balance sheet as his:
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Your answer is incorrect. The correct answer is “Loan” (option 4).
Question 8 of 8
8. Question
The loss or gain on account of revaluation at the time of retirement of a partner is shared by:
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Incorrect
Your answer is incorrect. The correct answer is “All partners” (option 3).
Awesome! your answer is correct.
Your answer is incorrect. The correct answer is “Both of the above” (option 3).