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Class 12 Accountancy: Admission of a Partner — Chapter Test 1

Class 12 • Accountancy • Admission of a Partner • Chapter Test

MediumFREE

15

Questions

20 min

Duration

15

Marks (1 each)

No

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

  • • Read each question carefully and pick the correct answer.
  • • You can mark questions for review and come back to them.
  • • Answers are saved automatically.
  • • The test is submitted automatically when time runs out.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15
The new profit-sharing ratio is calculated on the admission of a partner because:
A
capital changes
B
a new partner takes a share of profit
C
assets are sold
D
liabilities are paid
View Correct Answer & Step-by-Step Solution
Correct Option:(B)a new partner takes a share of profit

Detailed explanation is available inside the official test attempt review.

Question 2 of 15
Sacrificing ratio =
A
new ratio − old ratio
B
old ratio − new ratio
C
old ratio + new ratio
D
capital ratio
View Correct Answer & Step-by-Step Solution
Correct Option:(B)old ratio − new ratio

Detailed explanation is available inside the official test attempt review.

Question 3 of 15
A and B share profits 3:2. C is admitted for 1/5 share, taken from them in the old ratio. The new ratio is:
A
12:8:5
B
3:2:1
C
2:2:1
D
6:4:5
View Correct Answer & Step-by-Step Solution
Correct Option:(A)12:8:5

Detailed explanation is available inside the official test attempt review.

Question 4 of 15
Goodwill brought in by a new partner in cash is shared by old partners in their:
A
capital ratio
B
sacrificing ratio
C
new ratio
D
equal ratio
View Correct Answer & Step-by-Step Solution
Correct Option:(B)sacrificing ratio

Detailed explanation is available inside the official test attempt review.

Question 5 of 15
Revaluation Account is prepared to record:
A
changes in the value of assets and liabilities
B
goodwill only
C
capital introduced
D
drawings
View Correct Answer & Step-by-Step Solution
Correct Option:(A)changes in the value of assets and liabilities

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 12 Accountancy: Admission of a Partner — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Admission of a Partner" of Class 12 Accountancy. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.