Retirement/Death of a Partner MCQ

Below Retirement/Death of a Partner quiz are Multiple Choice Questions (MCQs) type Quiz. These Retirement/Death of a Partner MCQ Questions helps you to refresh your Retirement/Death of a Partner, you can see the correct option by clicking on it. .
  • 1. Which of the following is an appropriation of profit?

    • Interest on loan
    • Salary to partner
    • Employees’ salary
    • Rent
  • 2. Gaining ratio is used to distribute ------------------ in case of retirement of a partner

    • goodwill
    • revaluation
    • profit and loss credit balance
    • both a and b
  • 3. X, Y and Z are partners sharing profits and losses in the ratio of 4:3:2. Y retires and surrenders 1/9th of his share in favour of X and the remaining in favour of Z. The new profit sharing ratio will be:

    • 1:8
    • 13:14
    • 8:1
    • 14:13