InterviewSolution
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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
P, Q and R have been sharing profits and losses in the ratio of `5:3:2`. Q retires. His share is taken by P and R in the ratio of `2:1`. New profit sharing ratio will be:A. `6:4`B. `7:3`C. `7:2`D. `6:3` |
| Answer» Correct Answer - B | |
| 2. |
P, Q and R have been sharing profits in the ratio of `8:5:3.` P retires. Q takes `3//16`th share from P and R takes `5//16`th share from P. New profit sharing ratio will be :A. `1:1`B. `10:6`C. `9:7`D. `5:3` |
| Answer» Correct Answer - A | |
| 3. |
A, B and C are partners sharing profits in the ratio of `5:2:1.` If the ratio on the retirement of A is `3: 2`, what will be the gaining ratio?A. `11:14`B. `3:2`C. `2:3`D. `14:11` |
| Answer» Correct Answer - D | |
| 4. |
A, B and C are partners sharing profits in the ratio of `1//4:3//10: 9//20`. The New ratio on the retirement of C will be:A. `6:5`B. `5:6`C. `4:3`D. `4:10` |
| Answer» Correct Answer - B | |
| 5. |
A, B and C partners in `3: 4:2` B wants to retire from the firm. The profit on revaluation on that date was Rs. 36,000. New ratio of A and C is `5:3`. Profit on revaluation will be distributed as:A. A Rs. 16,000, B Rs. 12,000, C Rs. 8,000B. A Rs. 12,000, B Rs. 16,000, C Rs. 8,000C. A Rs. 22,500, C Rs. 13,500D. A Rs. 23,625, C Rs. 12,375 |
| Answer» Correct Answer - B | |
| 6. |
At the time of retirement of a partner, profit on revaluation will be credited to :A. Capital Account of retiring partnerB. Capital Accounts of all partners in the old profit sharing ratio.C. Capital Accounts of the remaining partners in their old profit sharing ratioD. Capital Accounts of the remaining partners in their new profit sharing ratio. |
| Answer» Correct Answer - B | |
| 7. |
L, P and G are three partners sharing profit in the ratio `15:9:8`. Retires. L and P decided to share profits in equals ratio. Gaining ratio. Gaining ratio will be:A. `15:9`B. `9:15`C. `7:1`D. `1:7` |
| Answer» Correct Answer - D | |