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Corporate Accounting - Final Account

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Corporate Accounting - Final Account

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Multiple Choice Questions

Created by

Ananth Anthonisamy
Ananth Anthonisamy
Oman

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Corporate Accounting - Final Account
 

Corporate Accounting - Final AccountOnline version

Multiple Choice Questions

by Ananth Anthonisamy
1

1.What is the primary purpose of preparing final accounts of a partnership firm?

2

Which of the following is not a component of the final accounts of a partnership?

3

Interest on capital is

4

Salary to a partner is shown in

5

Interest on drawings is treated as:

6

In the absence of a partnership deed, profits and losses are shared:

7

A partner's capital account will be credited with:

8

The balance of the Profit and Loss Appropriation Account is transferred to:

9

Under fixed capital method, where is the net profit credited?

10

Goodwill brought in by a new partner is credited to:

 
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