Average Profit Method MCQ

Below Average Profit Method quiz are Multiple Choice Questions (MCQs) type Quiz. These Average Profit Method MCQ Questions helps you to refresh your Average Profit Method, you can see the correct option by clicking on it. .
  • 1. Below are the reason why you study OM EXCEPT___________.

    • OM is one of three major functions (marketing, finance, and operations) of any organization
    • we want to understand what operations managers do
    • OM include performing market research, producing a marketing plan, as well as strategically overseeing advertising and promotion
    • we want (and need) to know how goods and services are produced
  • 2. Below are the roles of operations manager EXCEPT _________.

    • planning on capacity, locations, products & services,make or buy, layout and do projects scheduling
    • develop an incentive plan, issuance of work orders & job assignment.
    • manage the inventory, control the quality, costs and productivity
    • produce financial reports and develop direct investment activities
  • 3. ……..should compensate …………..in the case of reconstitution of the firm.

    • Gaining partner, sacrificing partner
    • gaining partner sacrificing partner
    • gainer sacrificer
    • business, partners
  • 4. Reserves and accumulated profits are transferred to partners ' capital accounts at the time of reconstitution in:

    • old profit sharing ratio
    • Gaining ratio
    • Sacrificing Ratio
    • New profit-sharing ratio
  • 5. The excess amount which the firm can get on selling its assets over and above the saleable value of its assets is called :

    • Goodwill
    • Super profits
    • Surplus
    • Reserve
    • Goodwill
  • 6. Any change in the relationship of existing partners which results in an end of the existing agreement and enforces making of new·agreement is called:

    • Reconstitution of Partnership Firm
    • Revaluation of partnership Firm