MCQ of admission of a partner accountancy class 12


Choose the Best Alternate:

Q. 1. A new partner may be admitted into a partnershiP

(A) With the consent of any one partner

(B) With the consent of majority of parthers

(C) With the consent of all old partne

(D) With the consent of 2/3rd of old partners

Q. 2. On the admission of a new partner

(A) Old firm is dissolved

(B) Old partnership is dissolved

(C) Both old partnership and firm are dissolved

(D) Neither partnership nor firm is dissolved

Calculation of New Profit Sharing Ratios:

Q. 3. A and B are partners sharing profit in the ratio of 3 :2. They admit C as a

partner by giving him 1/3 share in future profits. The new ratio will be

(A) 12: 8:5

(C) 5:5:12

(B) 8: 12:5

(D) None of the Above

(C.S. Foundation, Dec., 2012)

Q. 4. Xand Y are partners sharing profit in the ratio of 3 :2. Z was admitted with 1/4

share in profits which he acquires equally from Xand Y. The new ratio will be:

(A) 9:6:5

(C) 3:3:2

(B) 19: 11 10

(D) 3:2:4

Q.5. A and B share profits in the ratio of 2 1. C is admitted with 1/4 share in

profits. C acquires 3/4 of his share from A and 1/4 of his share from B The

new ratio will be:

(B) 23:13 12

(D) 13:23:12

Q.6. B and N are partners in a firm sharing profits in the ratio of 3:2. They

S as a partner for 1/4th share in the profits. S acquires his share from B and

in the ratio of 2:1. The new profit-sharing ratio will be

(A)2:1:4

(B) 19: 26 15

(D) 26: 19:15

(C) 3:2:4

Q. 7. A and B are partners sharing profits and losses in the ratio of 7:5. They agree

to admit C, their manager, into partnership who is to get 1/6th share in the

profits. He acquires this share as 1/24th from A and 1/8th from B. The new

profit sharing ratio will be

(A) 13:7:4

(C) 7:5:6

(B) 7:13:4

(D) 5:7:6

Q.8. A and B share profits in the ratio of 3: 2. They agreed to admit C on the

condition that A will sacrifice 25th of his share of profit in favour of C and B

will sacrifice 1/25th of his profits in favour of C. The new profit sharing ratio

will be

(B) 3:2:4

(D) 48:66 11

(A) 12:9:4

(C) 66:48:11

Q.9. A and B are partners in a firm sharing profits and losses in the ratio of 3:2. A

new partner C is admitted. A surrenders 1/15th share of his profit in favour of

C and B surrenders 2/15th of his share in favour of C. The new ratio will be

(A) 8:4:3

(C) 4:8:3

(B) 42: 26:7

(D) 26:42:7

10. A and B are partners sharing profit or loss in the ratio of4:1. A surrenders 1/4

of his share and B surrenders 1/2 of his share in favour of C, a new partner

What will be the C"s share?

(A) 3/4

(B) 1/5

(C) 1/10

(D) 3/10

Q. 11. A and B are partners in a business sharing profits and losses in the ratio of

7:3 respectively. They admit C as a new partner.

A sacrificed 1/7th share of his profit and B sacrificed 1/3rd of his share in favour of C. The new profits haring ratio of A, B and C will be

(A) 3:1:1

(B) 2:1:1

(C) 2:2:1

(D) None of the above

(C.S. Foundation, June, 2013)

0. 12. A and B are partners sharing profit or loss in the ratio of 3 : 2. C is admitted

into partnership as a new partner. A sacrifices 1/3 of his share of B sacrifices

1/4 of his share in favour of C. What will be the C's share in the firm?

(A) 1/5

(B) 2/10

(C) 3/10

(D) None of the above

Q 13 and B are partners in a firm sharing profits and losses in the ratio of 2:3 C is

is admitted for 1/5 share in the profits of the firm. If C gets it wholly from a,

the new profit sharing ratio after C's admission will be

(A) 1:3:3

(B) 3:1:1

(C) 2:1;1

(D) 1:3:1

14. A and B are partners sharing profits in the ratio of 4: 3. The admitted c as a

new partner who gets 1/5th share of profit, entirely from A. The new profit

sharing ratio will be

(A) 20:8:7

(C) 13: 15:7

(B) 13 15 15

(D) 15 13:5

Q. 15. A, B, C, D are in partnership sharing profits and losses in the ratio of

9: 6 : 5 : 5. E joins the partnership for 20% share. A, B, C and D would in future share profits among themselves as 3/10:4/10: 2/10: 1/10. The new

profit sharing ratio will be:

(A) 3:4:2:1:5

(C) 6:8:4:2:5

(B) 9:6:5:5:5

D) 8:6:4:2:5

Q. 16. A and B are in partnership sharing profits and losses as 3:2. Cis admitted for 1/4th share. Afterwards D enters for 20 paisa in the rupee. The new profit

sharing ratio after D's admission will be

(A) 9:6:5:5

(C) 3:2:4:5

в) 6995:5

(D) 3:2:5:5

Calculation of Sacrificing Ratio

Q. 17. The formula for calculating the sacrificing ratio is:

(A) New share- Old share

(B) old share -new share

(C) Gaining Ratio- Old Ratio

(D) old ratio-gaining ratio

Q. 18. X and Yare partners sharing profits in the ratio of 3 : 2. Z is admitted as a partner. Calculate sacrificing ratio if new profit sharing ratio is 9:7:4.

(A) 3:1

(B) 3:2

(C) 1:3

(D) 9:7

Q. 19 A and B are partners sharing profits in the ratio of 5 : 3. A surrenders 1/4 th of his Share and B surrenders 1/5 of his share in favour of C, a new partner. What

the sacrificing ratio?

(A) 4:5

(B) 5:4

(D) 25: 12

(C) 12:25

0, 20. 4 and B are partners sharing profits in the ratio of 11:4. C was admitted. A surrendered 1/11th of his share and B 1/4 of his share in favour of

sacrificing ratio will be

(A) 11:4

(B) 1:1

(C) 4:11

(D) 7:4

0.21. P and Q are partners sharing profits in the ratio of 9:7. R is admitted as

a partner with 9/20th share in the profits, which he takes 1/5th from P and 1/4

from Q. Sacrificing ratio will be

(A) 5:4

(C) 7:9

(B) 9:7

(D) 4:5

HOTS

0.22. A, B and C are partners sharing in the ratio of 5:4:3. They admit D for 1/7th

share. It is agreed that B would retain his original share. Sacrificing ratio will

be

(A) A, B and C- 5:4:3

(C) A and C-5:4

(B) A and C-4:3

(D) A and C-5:3

Q.23. A and B are partners sharing profits and losses in the ratio of 5 : 4. C is

admitted for 1/5th share. A and B decide to share equally in future. Sacrificing

ratio will be:

(A) 5:4

(C) 7:2

(B) 2:7

(D) 1:1

Q 24. A and B are partners. They admit C for 1/3rd share. In future the ratio between

A and B would be 2: 1. Sacrificing ratio will be

(A) 2:1

(B) 1:1

(C) 5:1

(D) 1:5

Q. 25. A and B are partners sharing profits and losses as 2: 1. Cis admitted and profit

sharing ratio becomes 4: 3:2. Goodwill is valued at 94,500. C brings

required goodwill in cash. Goodwill amount will be Credited to

(A) A14,000 and B 7,000

(B) A 12,000 and B 9,000

(C) A 21,000

(D) A 94,500

0. 26. X and Y are partners sharing profits and losses in the ratio of 3 :2. They admit

Z into partnership with 1/5th share in profits which he acquires equally from X

and Y. Z brings in 40,000 as goodwill in cash. Goodwill amount will be

credited to

(A) X 20,000; Y 20,000

(B) X 725,000; Y 15,000

(C) X 724,000; Y 16,000

(D)XY 4,000; Y 4,000

Q. 27. A and B are partners sharing profits and losses in the ratio of 3:2 C is admitted into partnership for 1/5th share in profit. He pays 1,00,000 as goodwill. The ratio of the partners A, B and C in the new firm would be 3:: 1. Goodwill will be credited to:

(A) Only A 1,00,000

(C) A 60,000, B 40,000

(B) Only B 1,00,000

(D) A 75,000, B 25,000

Q. 28. A and B are partners in a firm sharing profits in the ratio of 2: 1. C is admited

as a partner. A and B surrender 1/2of their respective share in favour of C to bring his share of premium for goodwill in cash. The goodwill of the firm is estimated at? 60,000. Credit will be given to :

(A) A 15,000, Bき15,000

(C) A 30,000; B 30,000

(B) A 40.000: B 20.000

(D) A F20,000; B 210,000

0.29. P and S are partners sharing profits in the ratio of 3:2. R is admited with 1/5th

share and he brings in 84,000 as his share of goodwill which is Credited to

the Capital Accounts of P and S respectively with 63,000 and21,000. New

profit sharing ratio will be

(A) 3:1:5

(B) 9:7:4

(C) 3:2:5

(D) 7:9:4

Q. 30. Partners A, B and C share the profits of a business in the ratio of 3 2:1

respectively. They admit D who brings in 60,000 for his share of goodwill.

A, B, C and D decide to share the profits respectively in the ratio of 5:3:2

2. Credit will be given to

(A) A 6,000; B 6,000      

(B) A 30,000, B 18,000; C 12,000

(C) A 30,000; B 20.000, C 10,000

(D) A 730,000, B 730,000

Q.31. A and B are partners sharing profits and losses as 2: 1. C and D are admitted

and profit sharing ratio becomes 3:2:4:1. Goodwill is valued at 90,000

C and D bring required goodwill in Cash. Credit will be given to

(A) A 30,000, B 15,000

(C) A 733,000, B 12,000

(B) A 66,000, B 24,000

(D) A 27,000, B18,000

Q.32. 4 and B are partners sharing profits and losses in 3 : 2. They admit C partnership for 3/10th share in the profits. A surrenders 1/3rd of his share and b  Surenders 1/4th of his share in favour of C. Goodwill of the firm is valued 3,00,000 but C is unable to bring his share of goodwill in cash credit will be given to:

(A)A 54000 B 36000

(b)A 60000; B30000

(c) A 20000;B 100000

(d)A 180000; B 120000

Q33 A and B are partners sharing profits in the ratio of 7:5. C is admitted into the

partnership for1/6th share which he acquires 1/24 th from A and 1/8th from B. C

does not pay anything for his share of goodwill. On C's admission firm's

goodwill was valued at 1,80,000. Credit will be given to

(A) A 22,500; B 7,500

(C) A 45,000, B 135,000

(B) A 7,500, B 22500

(D) A 135,000, B 45000

Q. 34. X and Y are partners in a firm sharing profits in the ratio of 5 :3. They

admitted Z as a new partner. The new profit sharing ratio will be 4:3:2. The

firm's goodwill on Z's admission was valued at 126,000. But Z could not

bring any amount of goodwill in Cash. Credit will be given to:

(A) X 17,500; Y 10,500

(C) X 22,750; Y 5,250

(B) X 16,000; Y 12,000

(D) X 1,02,375; Y 23,625

Q.35. A and B are partners sharing profits in the ratio of 3 :2. They admit C into the partnership with 1/4th share in future profits. The new profit sharing ratio is 5:4:3. The firm's goodwill on C"'s admission was valued at 1,44,000. But C could not bring any amount for goodwill in Cash. Credit will be given to

(A) A 80,000; B 64,000

(C) A 1,05,600, B 38,400

(b)20.000: B 16,000

(d)26,400, B 9,600

0.36. P, O and R share profits in the ratio of 5:3:2. S is entitled for 1/5th share in profits which he acquires equally from P, O and R. Goodwill of the firm is to be valued at three year's purchase of last four year's profits which are 50,000, 260,000; 30,000 and 40,000. S cannot bring his share of

goodwill in cash. Credit will be given to

(A) P 230,000; 30,000; R 30,000

(B) PR 6,000; Q 6,000; RR 6,000

(C) P *45,000; 27,000; R 18,000

(D) P 9,000.01 9,000, R 9,000

0.37. When a new partner brings his share of goodwill in cash, the amount is debited

to

(A) Goodwill A/c

(C) Cash A/c

(B) Capital A/e of the new partner

(D) Capital A/es of the old partners

Q38 . When a new partner does not bring his share of goodwill in cash, the amount

s debited to

(A)CASH

(B) Premium A/e

(C)Current A/e of the new partner

(D) Capital A/es of the old partners

Q. 39 iF at the time of admission, some profit and loss account balance appears in

the books, it will be transferred to