Fundamentals of Partnership MCQs

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Created on By One Mark Solution

Fundamental of Partnership (Theory)

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1) In case of partnership the act of any partner is:

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2) Vinod and Anuj are partners sharing profits equally. Vinod get a commission on sales @ 5%. Sales were ` 6,00,000
during the year. Commission of Vinod is to be shown in:

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3) Following are essential elements of a partnership firm except:

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4) Which of the following statement is true?

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5) Which of the following items is not dealt through Profit and Loss Appropriation Account?

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6) In the absence of Partnership Deed interest on partner’s loan is calculated at:

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7) Under what circumstances, a partner can get exemption from sharing losses in a firm?

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8) Need of Profit and Loss Adjustment account is for:

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9) The written Agreement of Partnership is most commonly referred to as:

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10) Under Fluctuation Method of Capital, what is the treatment of “Interest on Capital”?

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Hello Students!  We are providing here the Fundamentals of Partnership MCQs.

From the Annual Examination 2021-22, class XII students will find more number of objective type questions in their Accountancy question paper.

To prepare for the one mark questions, students need to know all the important concepts which can be tested in the exam.

CBSE MCQs on Class XII Accountancy Fundamentals of Partnership MCQs provided by One Mark Solution will help students get acquainted with such important concepts and topics.

So that they may easily attempt the related Multiple Choice Type Questions asked in CBSE XII Accountancy Exam 2021-22.

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Stay Tuned, in Future we will provide the multiple choice questions on fundamentals of partnership mcq pdf. Here we have provided partnership fundamentals class 12 mcq Practice it for the Better Results in the CBSE Term 1 Exam 2021-22.

Fundamentals of Partnership MCQS
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