Matching Type MCQs of Admission of Partner Class 12
Looking for important Matching type MCQs with answers of Admission of partner chapter of Accountancy class 12 CBSE, ISCE and other state Board.
We have compiled important Matching Type Multiple Choice Questions with answers of admission of partner of volume 2 accountancy class 12
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Matching Type Multiple Choice Questions with answers of admission of partner chapter class 12
Let’s Practice
Match the columns (at the time of admission of partners)
| Column – I | Column – II |
| A – Increase in liabilities | i) – Credit – Revaluation Account |
| B – Bad debts recovered | ii) – Credit – Partner’s Capital Account |
| C – Accumulated losses | iii) – Debit – Revaluation Account |
| D – Profit and loss (Cr) | iv) Debit – Partner’s Capital Account |
a) A – iii), B – i), C – ii), D – iv)
b) A – i), B – iii), C – iv), D – ii)
c) A – i), B – iii), C – ii), D – iv)
d) A – iii), B – i), C – iv), D – ii)
Ans:- d)
Match the column for situations at the time of admission of new partners.
| Column – I | Column – II |
| A – Future Profits | i) Old Ratio |
| B – General Reserve | ii) New Ratio |
| C – Employee provident Fund | iii) Sacrificing Ratio |
| D – Goodwill of incoming partner | iv) Not distributed |
a) A – i), B – ii), C – iii), D – iv)
b) A – i), B – ii), C – iv), D – iii)
c) A – ii), B – i), C – iv), D – iii)
d) A – ii), B – i), C – iii), D – iv)
Ans:- c)
Match the following in case of admission of a partner:
| (i) Partner’s Current A/c | (a) Dissolution of Partnership Firm |
| (ii) Goodwill A/c | (b) Admission of a partner |
| (iii) Partner’s Drawings A/c | (c) Fixed Capitals of partners |
| (iv) Realisation A/c | (d) Goods taken by a partner for self consumption |
Options
(a) i – c; ii – b; iii – d; iv – a
(b) i – a; ii – c; iii – b; iv – d
(c) i – c; ii – b; iii – a; iv – d
(d) i – d; ii – b; iii – c; iv – a
Ans:- a)
Match the following items:
| (i) Hidden Goodwill (at the time of admission) | (a) Written off in new profit sharing ratio. |
| (ii) Goodwill appearing in the books (at the time of change in profit sharing ratio) | (b) Written off in old profit sharing ratio |
| (c) Total capital based on New partner’s share (-) total of all partners capital | |
| (d) Total of all partners capital (-) total capital based on new partner’s share |
Options:-
(a) i – a; ii – d
(b) i – c; ii – b
(c) i – d; ii – a
(d) i – b; ii – c
Ans:- b)
Match the following items:
| (i) Admission of a new partner | (a) With the consent of any existing partner |
| (b) with the consent of majority of existing partners | |
| (c) with the consent of all partners | |
| (d) with the consent of two – third partners |
Options
(a) i – a
(b) i – b
(c) i – c
(d) i – d
Ans:- c)
Match the following items:
| (i) Profit and loss adjustment a/c | (a) Profit & Loss Suspense Account |
| (ii) Partners capital a/c | (b) Real Account |
| (iii) Deceased partner’s share of profit | (c) Revaluation Account |
| (iv) Goodwill A/c | (d) Personal Account |
Options:-
(a) i – b; ii – d, iii – a; iv – c
(b) i – c; ii – a, iii – d; iv – b
(c) i – a; ii – d, iii – c; iv – b
(d) i – c; ii – d, iii – a; iv – b
Ans:- d)
Match the following items:
| (i) when new partner is unable to bring his/her share of goodwill in cash | (a) No entry passed in the books of accounts |
| (ii) When new partner brings his/her share of goodwill in cash | (b) New Partners Current A/c Dr. To Sacrificing Partner’s Capital A/c |
| (c) Bank A/c Dr. To Premium for Goodwill A/c |
Options:-
(a) i – a; ii – c
(b) i – b; ii – c
(c) i – c; ii – a
(d) i – b; ii – a
Ans:- b)
Treatment of the following on admission of new partner:
| (i) Building undervalued | (a) Sacrificing Ratio |
| (ii) Building overvalued | (b) Dr. Revaluation Account |
| (iii) Goodwill appearing in the books at the time of admission | (c) Cr. Revaluation Account |
| (iv) Goodwill brought in by new partner | (d) Old Ratio |
Options:-
(a) i – c; ii – b; iii – d; iv – a
(b) i – a; ii – b; iii – d; iv – c
(c) i – b; ii – c; iii – d; iv – a
(d) i – d; ii – b; iii – c; iv – a
Ans:- a)
Treatment of the following on admission of new partner:
| (i) Increase in value of Machine | (a) Dr. Revaluation Account |
| (ii) Provision for doubtful debts no longer required | (b) Cr. Revaluation Account |
| (iii) Unrecorded Investment | (c) No Change |
Options:-
(a) i – a; ii – b; iii – c
(b) i – b; ii – a; iii – b
(c) i – b; ii – b; iii – b
(d) i – c; ii – b; iii – a
Ans:- c)
Match the following items:
| (i) Bad Debts Recovered | (a) Dr. Revaluation Account |
| (ii) Unrecorded Liability | (b) Cr. Revaluation Account |
| (iii) Workmen Compensation Claim | (c) No Change |
Options:-
(a) i – b; ii – c; iii – a
(b) i – b; ii – a; iii – a
(c) i – a; ii – a; iii – c
(d) i – b; ii – c; iii – a
Ans:- b)
Treatment of the following on admission of new partner:
| (i) Creditors overvalued | (a) No treatment required |
| (ii) Creditors undervalued | (b) Dr. Revaluation Account |
| (iii) Unrecorded Creditors | (c) Cr. Revaluation Account |
Options
(a) i – a; ii – b; iii – b
(b) i – c; ii – a; iii – b
(c) i – c; ii – b; iii – a
(d) i – c; ii – b; iii – b
Ans:- d)
Match the following items:
| (i) When the new partner brings additional cash other than his capital | (a) Capital |
| (ii) When the new partner brings Assets other than cash for his capital | (b) Reserves |
| (c) Profit | |
| (d) Premium for Goodwill |
Options:-
(a) i – d; ii – d
(b) i – a; ii – d
(c) i – b; ii – d
(d) i – c; ii – d
Ans:- a)
Treatment of the following on admission of new partner:
| (i) General Reserves | (a) No treatment required in partners capital accounts |
| (ii) Advertisement suspense | (b) Cr. in partner’s capital accounts |
| (iii) Gain on Revaluation | (c) Dr. in partner’s capital accounts |
Options:-
(a) i – a; ii – c; iii – b
(b) i – b; ii – a; iii – b
(c) i – b; ii – c; iii – a
(d) i – b; ii – c; iii – b
Ans:- d)
Match the following items:
| (i) Revaluation Account | (a) Loss |
| (ii) Decrease in Provision for Doubtful Debts | (b) Nominal Account |
| (iii) Goodwill Account | (c) Gain |
| (iv) Increase in Liabilities | (d) Real Account |
Options:-
(a) i – a; ii – c; iii – b; iv – d
(b) i – c; ii – b; iii – d; iv – a
(c) i – b; ii – c; iii – d; iv – a
(d) i – a; ii – c; iii – d; iv – b
Ans:- c)
