CBSE Class 12 Accounting for Partnership – Basic Concepts Multiple Choice Questions with Answers. MCQ Questions Class 12 Accounting for Partnership – Basic Concepts with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Accounting for Partnership – Basic Concepts with Answers to know their preparation level.
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MCQ Questions Class 12 Accounting for Partnership - Basic Concepts with Answers - Set - 4
Question 1:Â
Drawings of partners will be shown in ________
(a) Capital account
(b) Profit and loss adjustment account
(c) Profit and loss account
(d) Trading account
Correct Answer – (A)
Question 2:Â
Salary to partners will be shown in _________
(a) Profit and loss account
(b) Profit and loss adjustment account
(c) Trading account
(d) Manufacturing account
Correct Answer – (B)
Question 3:Â
Current accounts are opened if capital is __________
(a) fixed
(b) fluctuating
(c) not contributed
(d) fixed or fluctuating
Correct Answer – (A)
Question 4:Â
Maximum number of partners in a normal partnership are ________
(a) 5
(b) 7
(c) 2
(d) 20
Correct Answer – (D)
Question 5:Â
In the absence of any provision interest on capital will be calculated for _________
(a) 6 months
(b) 1 year
(c) 1 month
(d) no interest
Correct Answer – (D)
MCQ Questions Class 12 Accounting for Partnership – Basic Concepts With Answers
Question 6:Â
Interest on capital will be shown in ________
(a) Capital account
(b) Profit and loss adjustment account
(c) Trading account
(d) Both of capital account and profit and loss adjustment account
Correct Answer – (D)
Question 7:Â
Balance of capital (fix) accounts may be _________
(a) Dr.
(b) Cr.
(c) Dr. or Cr.
(d) Cr. and Dr.
Correct Answer – (B)
Question 8:Â
Maximum number of partners in a banking partnership are _________
(a) 5
(b) 7
(c) 2
(d) 10
Correct Answer – (D)
Question 9:Â
Minimum number of partners in a partnership are ________
(a) 5
(b) 7
(c) 2
(d) 10
Correct Answer – (C)
Question 10:Â
Provisions of Table _______ are applicable in the absence of partnership deed.
(a) A
(b) B
(c) C
(d) D
