{"id":18377,"date":"2022-05-30T03:00:00","date_gmt":"2022-05-29T21:30:00","guid":{"rendered":"https:\/\/mcq-questions.com\/?p=18377"},"modified":"2022-05-19T12:06:53","modified_gmt":"2022-05-19T06:36:53","slug":"mcq-questions-for-class-12-accountancy-chapter-3","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/","title":{"rendered":"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers"},"content":{"rendered":"

Students who are searching for NCERT MCQ Questions for Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accountancy with Answers<\/a>. You can also verify your answers from our provided Reconstitution of Partnership Firm: Admission of a Partner Class 12 MCQs Questions with Answers. So, ace up your preparation with MCQ on Reconstitution of Partnership Firm: Admission of a Partner Class 12 Objective Questions.<\/p>\n

Reconstitution of Partnership Firm: Admission of a Partner Class 12 MCQs Questions with Answers<\/h2>\n

I. State which of the following is correct:<\/span><\/p>\n

Question 1.
\nA and B are partners in a firm having a capital of \u20b9 54,000 and \u20b9 36,000 respectively. They admitted C for 1\/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:
\n(a) \u20b9 90,000
\n(b) \u20b9 45,000
\n(c) \u20b9 5,400
\n(d) \u20b9 36,00<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) \u20b9 45,000<\/p>\n<\/details>\n

\n

Question 2.
\nAny change in the relationship of existing partners which results at an end of the existing agreement and enforces making of a new agreement is called
\n(a) Revaluation of partnership
\n(b) Reconstitution of partnership
\n(c) Realisation of partnership
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Reconstitution of partnership<\/p>\n<\/details>\n

\n

Question 3.
\nWhen the new partner brings cash for goodwill, the amount is credited to:
\n(a) Realisation Account
\n(b) Cash Account
\n(c) Premium for Goodwill Account
\n(d) Revaluation Account<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Premium for Goodwill Account<\/p>\n<\/details>\n

\n

Question 4.
\nGoodwill is an _______ Assets.
\n(a) fixed
\n(b) intangible
\n(c) current
\n(d) fictitious<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) intangible<\/p>\n<\/details>\n

\n

Question 5.
\nValue of reputation of the firm is:
\n(a) Royalty
\n(b) Assets
\n(c) Goodwill
\n(d) Patents<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Goodwill<\/p>\n<\/details>\n

\n

Question 6.
\n________ profit is excess of actual profits over normal profits.
\n(a) Net
\n(b) Average
\n(c) Super
\n(d) Appropriated<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Super<\/p>\n<\/details>\n

\n

Question 7.
\nSacrifice Ratio = _______
\n(a) New Ratio – Old Ratio
\n(b) Old Ratio – New Ratio
\n(c) New Ratio + Old Ratio
\n(d) Old Ratio + New Ratio<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Old Ratio – New Ratio<\/p>\n<\/details>\n

\n

Question 8.
\nGaining Ratio = ________
\n(a) New Ratio – Old Ratio
\n(b) Old Ratio – New Ratio
\n(c) New Ratio + Old Ratio
\n(d) Old Ratio + New Ratio<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) New Ratio – Old Ratio<\/p>\n<\/details>\n

\n

Question 9.
\nShare of old Partners will ________ if new partner admit in the firm.
\n(a) increase
\n(b) decrease
\n(c) remains same
\n(d) not changed<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) decrease<\/p>\n<\/details>\n

\n

Question 10.
\nUnrecorded liabilities will be ______ in Revaluation Account.
\n(a) debited
\n(b) credited
\n(c) not shown
\n(d) shown<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) debited<\/p>\n<\/details>\n

\n

Question 11.
\nUnrecorded Assets will be _______ in Revaluation Account.
\n(a) debited
\n(b) credited
\n(c) not shown
\n(d) shown<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) credited<\/p>\n<\/details>\n

\n

Question 12.
\nNew Partner can be admitted in the firm with the consent of ________ old partners.
\n(a) anyone
\n(b) all
\n(c) 3\/4
\n(d) 1\/2<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) all<\/p>\n<\/details>\n

\n

Question 13.
\nOld Partnership will dissolve if
\n(a) profit sharing ratio changes
\n(b) new partner admits
\n(c) any partner retires
\n(d) all of these<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) all of these<\/p>\n<\/details>\n

\n

Question 14.
\nIf new partner brings goodwill in cash then ________ Account will be debited.
\n(a) cash
\n(b) premium for goodwill
\n(c) goodwill
\n(d) capital<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) cash<\/p>\n<\/details>\n

\n

Question 15.
\nIf new partner brings goodwill in cash then Account will be credited.
\n(a) cash
\n(b) premium for goodwill
\n(c) goodwill
\n(d) capital<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) premium for goodwill<\/p>\n<\/details>\n

\n

Question 16.
\nProfit or loss represented by Revaluation Account will be transferred to capital accounts of ______ partners.
\n(a) all
\n(b) new
\n(c) old
\n(d) remaining<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) old<\/p>\n<\/details>\n

\n

Question 17.
\nGoodwill brought in cash by new partners will be transferred in old partners capital account in _______ Ratio.
\n(a) new
\n(b) old
\n(c) sacrificing
\n(d) gaining<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) sacrificing<\/p>\n<\/details>\n

\n

Question 18.
\nAmount of old goodwill already appearing in the books will be written off:
\n(a) in old ratio
\n(b) in new ratio
\n(c) in sacrifice ratio
\n(d) in gaining ratio<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) in old ratio<\/p>\n<\/details>\n

\n

Question 19.
\nAn increase in the value of an assets will be recorded in the _______ side of revaluation account.
\n(a) debit
\n(b) credit
\n(c) either debit or credit
\n(d) debit and credit both<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) credit<\/p>\n<\/details>\n

\n

Question 20.
\nAn increase in the value of a liability will be recorded on the ________ side of revaluation account.
\n(a) debit
\n(b) credit
\n(c) either debit or credit
\n(d) debit and credit both<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) debit<\/p>\n<\/details>\n

\n

Question 21.
\nA decrease in the value of a liability will be recorded on the ________ side of revaluation account.
\n(a) debit
\n(b) either debit or credit
\n(c) credit
\n(d) debit and credit both<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) credit<\/p>\n<\/details>\n

\n

Question 22.
\nAn increase in the value of a liability will be recorded on the ________ side of revaluation account.
\n(a) debit
\n(b) either debit or credit
\n(c) credit
\n(d) debit and credit both<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) debit<\/p>\n<\/details>\n

\n

Question 23.
\nAt the time of admission of a partner, new ratio will be calculated by:
\n(a) Old Ratio – New Ratio
\n(b) New Ratio – Old Ratio
\n(c) Old Ratio – Sacrifice Ratio
\n(d) Old Ratio + Sacrifice Ratio<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Old Ratio – Sacrifice Ratio<\/p>\n<\/details>\n

\n

II. Fill in the blanks with correct word.<\/span><\/p>\n

Question 24.
\nOld Ratio – New Ratio = _________<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Sacrifice Ratio<\/p>\n<\/details>\n

\n

Question 25.
\nNew Ratio – Old Ratio = __________<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Gaining Ratio<\/p>\n<\/details>\n

\n

Question 26.
\nOld Ratio – Sacrifice Ratio = __________<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: New Ratio<\/p>\n<\/details>\n

\n

Question 27.
\nOld Ratio + Gaining Ratio = __________<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: New Ratio<\/p>\n<\/details>\n

\n

Question 28.
\nA new Partner can be admitted in partnership firm with the ________ of all partners.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Consent<\/p>\n<\/details>\n

\n

Question 29.
\nOld Partnership will dissolve if profit share ratio is _________<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Changed<\/p>\n<\/details>\n

\n

Question 30.
\nAmount of goodwill paid by new partner will be shared by old partners in _______ ratio.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Sacrifice<\/p>\n<\/details>\n

\n

Question 31.
\nAmount of goodwill already shown in the balance sheet will be written off in ________ ratio.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Old<\/p>\n<\/details>\n

\n

Question 32.
\nOld partners sacrifice their shares in favour of new partner in ______ ratio.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Sacrifice<\/p>\n<\/details>\n

\n

Question 33.
\nIf business is located at the central place of city then value of goodwill will be ________<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: High<\/p>\n<\/details>\n

\n

Question 34.
\nOld businesses have _________ goodwill in comparison to newly established business.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: More<\/p>\n<\/details>\n

\n

Question 35.
\nIf average profit method is adopted for valuation of goodwill then ________ profits are used for this propose.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Average<\/p>\n<\/details>\n

\n

Question 36.
\nIf super profit method is adopted for valuation of goodwill then _______ profits are used for this purpose.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Super<\/p>\n<\/details>\n

\n

Question 37.
\nSuper profits are the excess of actual profits over __________ profits.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Normal<\/p>\n<\/details>\n

\n

Question 38.
\nNormal profits are those profits which are earned by __________ organisations of the industry.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Other<\/p>\n<\/details>\n

\n

III. State whether the following statements are True or False.<\/span><\/p>\n

Question 39.
\nAmount of goodwill may be given personally to the old Partners by new partner.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 40.
\nIt is compulsory to pay goodwill in cash by new partner to the old partners.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 41.
\nIt is compulsory to revalue assets and liabilities at the time of reconstitution of partnership in a firm.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 42.
\nResulted profit or Loss out of Revaluation Account is shared by all partners including new partner.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 43.
\nA minor could be the partner of a partnership firm.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 44.
\nPremium method of goodwill is followed when new partner brings goodwill in cash.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 45.
\nGoodwill account appearing in the balance sheet of old firm need not to be written off at the time of admission of a partner.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 46.
\nRevaluation Account is a Real Account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 47.
\nCapital Accounts are nominal Account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 48.
\nAfter the admission of a new partner, it is compulsory that old ratio gets changed.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

IV. One word Questions.<\/span><\/p>\n

Question 49.
\nWhat is meant by ‘Issued Capital\u2019?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Issued capital means such capital as the company issues from time to time for subscription-section 2(50) of the companies Act 2013.<\/p>\n<\/details>\n

\n

Question 50.
\nWhat is meant by \u2018Employees Stock Option Plan\u2019?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: ESOP means option granted by the company to its employees & employee directors to subscribe the share at a price that is lower than the market price i.e., fair value. It is an option granted by the company but it is not an obligation on the employee to subscribe it.<\/p>\n<\/details>\n

\n

Question 51.
\nA and B were partners in a firm sharing profits in the ratio of 3 : 2. C and D were admitted as new partners. A sacrificed \\(\\frac{1}{4}\\)th of his share in favour of C and B sacrificed 50% of his share in favour of D. Calculate the new profit sharing ratio of A, B, C and D.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Old ratio = 3 : 2
\nA\u2019s Sacrifice (in favour of C) = 1\/4 \u00d7 3\/5 = 3\/20
\nB\u2019s Sacrifice (in favour of D) = 1\/2 \u00d7 2\/5 = 2\/10
\nA\u2019s New Share = 3\/5 – 3\/20 = 9\/20
\nB\u2019s New Share = 2\/5 – 2\/10 = 2\/10<\/p>\n<\/details>\n

\n

Question 52.
\nAnkit, Unnati and Aryan are partners sharing profits in the ratio of 5 : 3 : 2. They decided to share future profits in the ratio of 2 : 3 : 5 with effect from 1st April, 2018. They had the following balance in their balance sheet, passing necessary Journal Entry:
\n\"MCQ<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nJournal
\n\"MCQ<\/p>\n<\/details>\n

\n

Question 53.
\nA and B are partners in a firm. They admit C as a partner with 1\/5th share in the profits of the firm. C brings \u20b9 4,00,000 as his share of capital. Calculate the value of C\u2019s share of Goodwill on the basis of his capital, given that the combined capital of A and B after all adjustments is \u20b9 10,00,000.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Total Capital as per C\u2019s Share = (4,00,000 \u00d7 (5\/1)) = \u20b9 20,00,000
\nLess Actual capital of A, B, C = (10,00,000 + 4,00,000) = \u20b9 14,00,000
\nValue of firm\u2019s Goodwill = \u20b9 6,00,000
\nC\u2019s share of Goodwill = 6,00,000 \u00d7 (1\/5) = \u20b9 1,20,000<\/p>\n<\/details>\n

\n

Question 54.
\nA and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2019 they decided to admit C their new ratio is decided to be equal. Pass the necessary journal entry to distribute Investment Fluctuation Reserve of \u20b9 60,000 at the time of C\u2019s admission, when Investment appear in the books at \u20b9 2,10,000 and its market value is \u20b9 1,90,000.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nJournal
\n\"MCQ<\/p>\n<\/details>\n

\n

Question 55.
\nA and B are in partnership sharing profits and losses in the ratio of 3 : 2. They admit C into partnership with 1\/5th share which he acquires equally from A and B. Accountant has calculated new profit sharing ratio as 5 : 3 : 2. Is accountant correct?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: C\u2019s Share acquired from A and B each = \\(\\frac{1}{5} \\times \\frac{1}{2}=\\frac{1}{10}\\)
\nA\u2019s Share = \\(\\frac{3}{5}-\\frac{1}{10}=\\frac{5}{10}\\)
\nB\u2019s Share = \\(\\frac{2}{5}-\\frac{1}{10}=\\frac{3}{10}\\)
\nNew Profit Sharing ratio of A : B : C is 5 : 3 : 2
\nYes, new profit sharing ratio is 5 : 3 : 2<\/p>\n<\/details>\n

\n

Question 56.
\nA, B and C were partners sharing profits in the ratio of 5 : 4 : 3. They decided to change their profit sharing ratio to 2 : 2 : 1 w.e.f. 1st April, 2019. On that date, there was a balance of \u20b9 3,00,000 in General Reserve and a debit balance of \u20b9 4,80,000 in the Profit and Loss Account.
\nPass necessary journal entries for the above on account of change in the profit sharing ratio.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nJournal
\n\"MCQ<\/p>\n<\/details>\n

\n

Question 57.
\nAt the time of admission of a partner, who decides the share of profit of the new partner out of the firm\u2019s profit?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: It is decided mutually between the old partners and the new partner.<\/p>\n<\/details>\n

\n

Question 58.
\nHari and Krishan were partners sharing profits and losses in the ratio of 2 : 1. They admitted Shyam as a partner for 1\/5th share in the profit. For this purpose, the Goodwill of the firm was to be valued on the basis of three years\u2019 purchase of last five years average profits. The profits for the last five years were:
\n\"MCQ
\nCalculate the Goodwill of the firm after adjusting the following:
\nThe profit of 2014-15 was calculated after charging \u20b9 10,000 for abnormal loss of goods by fire.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\n\"MCQ
\nAverage profits = \u20b9 2,00,000\/5 = \u20b9 40,000
\nGoodwill = Average Profits \u00d7 Number of years purchase
\n= \u20b9 40,000 \u00d7 3
\n= \u20b9 1,20,000<\/p>\n<\/details>\n

\n

Question 59.
\nAmit and Beena were partners in the firm sharing profits and losses in the ratio of 3 : 1. Chaman was admitted as a new partner for 1\/6th share in the profits. Chaman acquired 2\/5th of his share from Amit. How many shares did Chaman acquire from Beena?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Chaman acquired 1\/6 – (1\/6 \u00d7 2\/5) = 3\/30 from Beena.<\/p>\n<\/details>\n

\n

Question 60.
\nRitesh and Hitesh are childhood friends. Ritesh is a consultant whereas Hitesh is an architect. They contributed an equal amount and purchased a building for \u20b9 2 crores. After 10 years they sold it for \u20b9 3 crores and shared the profit equally. Are they doing the business in the partnership?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: No<\/p>\n<\/details>\n

\n

Question 61.
\nPawan and Jayshree are partners. Bindu is admitted for 1\/4th share. State the ratio in which Pawan and Jayshree will sacrifice their share in favour of Bindu?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Old ratio i.e. 1 : 1<\/p>\n<\/details>\n

\n

Question 62.
\nX and Y are partners. Y wants to admit his son K into the business. Can K become the partner of the firm?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Yes, if X agrees to it otherwise not<\/p>\n<\/details>\n

\n

Question 63.
\nName any one factor responsible which affect the value of goodwill.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Location of a business<\/p>\n<\/details>\n

\n

Question 64.
\nVishal & Co. is involved in developing computer software which is a high value added product and Tiny & Co. is involved in manufacturing sugar which is a low value item. If capital employed of both the firms is same, value of goodwill of which firm will be higher?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Vishal & Co.<\/p>\n<\/details>\n

\n

Question 65.
\nState a reason for the preparation of \u2018Revaluation Account\u2019 at time of admission of a partner.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: To record the effect of revaluation of assets and liabilities.<\/p>\n<\/details>\n

\n

Question 66.
\nIn which ratio is the profit or loss due to revaluation of assets and liabilities transferred to capital accounts?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Old Ratio of existing partners<\/p>\n<\/details>\n

\n

Question 67.
\nChange in Profit Sharing Ratio amounts to dissolution of partnership or partnership firm?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Dissolution of partnership<\/p>\n<\/details>\n

\n

Question 68.
\nState one occasion on which a firm can be reconstituted.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Change of profit sharing ratio among the existing partners<\/p>\n<\/details>\n

\n

Question 69.
\nWhat is the formula of calculating sacrificing ratio?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Sacrificing Ratio = Old Ratio – New Ratio<\/p>\n<\/details>\n

\n

Question 70.
\nBy which name the profit sharing ratio in which all partners, including the new partner, will share fixture profits?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: New profit sharing ratio<\/p>\n<\/details>\n

\n

Question 71.
\nIf the new partner acquires his share in profits from all the old partners in their old profit sharing ratio, by which ratio will the old partners sacrifice their profit sharing ratio?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Old profit sharing ratio<\/p>\n<\/details>\n

\n

Question 72.
\nName the accounting standard, issued by the Institute of Chartered Accountants of India, which deals with treatment goodwill.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: AS26<\/p>\n<\/details>\n

\n

Question 73.
\nWhen the new partner brings amount of premium for goodwill, by which ratio is this amount credited to old partners\u2019 Capital Accounts?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Sacrificing ratio<\/p>\n<\/details>\n

\n

Question 74.
\nWhat is the formula for calculating inferred goodwill?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Net worth of business on the basis of new partner\u2019s capital minus net worth of business in new firm<\/p>\n<\/details>\n

\n

Use the above-provided NCERT MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download and get a good grip on the fundamentals. Need any support from our end during the preparation of CBSE Class 12 Accountancy Reconstitution of Partnership Firm: Admission of a Partner MCQs Multiple Choice Questions with Answers then leave your comments below. We’ll revert back to you soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Students who are searching for NCERT MCQ Questions for Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accountancy with Answers. You can also verify your answers from our …<\/p>\n

MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers<\/span> Read More »<\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[35],"tags":[],"yoast_head":"\nMCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"Students who are searching for NCERT MCQ Questions for Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accountancy with Answers. You can also verify your answers from our … MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Read More »\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ Questions\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NCERTSolutionsGuru\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-29T21:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-19T06:36:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mcq-questions.com\/wp-content\/uploads\/2021\/02\/MCQ-Questions-for-Class-12-Accountancy-Chapter-3-Reconstitution-of-Partnership-Firm-Admission-of-a-Partner-with-Answers-Q4.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ncertsolguru\" \/>\n<meta name=\"twitter:site\" content=\"@ncertsolguru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Prasanna\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mcq-questions.com\/#website\",\"url\":\"https:\/\/mcq-questions.com\/\",\"name\":\"MCQ Questions\",\"description\":\"MCQ Questions for Class 1 to 12\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mcq-questions.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/i1.wp.com\/mcq-questions.com\/wp-content\/uploads\/2021\/02\/MCQ-Questions-for-Class-12-Accountancy-Chapter-3-Reconstitution-of-Partnership-Firm-Admission-of-a-Partner-with-Answers-Q4.png?fit=412%2C60&ssl=1\",\"contentUrl\":\"https:\/\/i1.wp.com\/mcq-questions.com\/wp-content\/uploads\/2021\/02\/MCQ-Questions-for-Class-12-Accountancy-Chapter-3-Reconstitution-of-Partnership-Firm-Admission-of-a-Partner-with-Answers-Q4.png?fit=412%2C60&ssl=1\",\"width\":412,\"height\":60,\"caption\":\"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm Admission of a Partner with Answers Q4\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#webpage\",\"url\":\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/\",\"name\":\"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers - MCQ Questions\",\"isPartOf\":{\"@id\":\"https:\/\/mcq-questions.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#primaryimage\"},\"datePublished\":\"2022-05-29T21:30:00+00:00\",\"dateModified\":\"2022-05-19T06:36:53+00:00\",\"author\":{\"@id\":\"https:\/\/mcq-questions.com\/#\/schema\/person\/4ba9570f32f2057e70e670c7885e47f3\"},\"breadcrumb\":{\"@id\":\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mcq-questions.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/mcq-questions.com\/#\/schema\/person\/4ba9570f32f2057e70e670c7885e47f3\",\"name\":\"Prasanna\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/mcq-questions.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/174540ad43736c7d1a4c4f83c775e74d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/174540ad43736c7d1a4c4f83c775e74d?s=96&d=mm&r=g\",\"caption\":\"Prasanna\"},\"url\":\"https:\/\/mcq-questions.com\/author\/prasanna\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers - MCQ Questions","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/","og_locale":"en_US","og_type":"article","og_title":"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers - MCQ Questions","og_description":"Students who are searching for NCERT MCQ Questions for Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accountancy with Answers. You can also verify your answers from our … MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Read More »","og_url":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/","og_site_name":"MCQ Questions","article_publisher":"https:\/\/www.facebook.com\/NCERTSolutionsGuru\/","article_published_time":"2022-05-29T21:30:00+00:00","article_modified_time":"2022-05-19T06:36:53+00:00","og_image":[{"url":"https:\/\/mcq-questions.com\/wp-content\/uploads\/2021\/02\/MCQ-Questions-for-Class-12-Accountancy-Chapter-3-Reconstitution-of-Partnership-Firm-Admission-of-a-Partner-with-Answers-Q4.png"}],"twitter_card":"summary_large_image","twitter_creator":"@ncertsolguru","twitter_site":"@ncertsolguru","twitter_misc":{"Written by":"Prasanna","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/mcq-questions.com\/#website","url":"https:\/\/mcq-questions.com\/","name":"MCQ Questions","description":"MCQ Questions for Class 1 to 12","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mcq-questions.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#primaryimage","inLanguage":"en-US","url":"https:\/\/i1.wp.com\/mcq-questions.com\/wp-content\/uploads\/2021\/02\/MCQ-Questions-for-Class-12-Accountancy-Chapter-3-Reconstitution-of-Partnership-Firm-Admission-of-a-Partner-with-Answers-Q4.png?fit=412%2C60&ssl=1","contentUrl":"https:\/\/i1.wp.com\/mcq-questions.com\/wp-content\/uploads\/2021\/02\/MCQ-Questions-for-Class-12-Accountancy-Chapter-3-Reconstitution-of-Partnership-Firm-Admission-of-a-Partner-with-Answers-Q4.png?fit=412%2C60&ssl=1","width":412,"height":60,"caption":"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm Admission of a Partner with Answers Q4"},{"@type":"WebPage","@id":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#webpage","url":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/","name":"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers - MCQ Questions","isPartOf":{"@id":"https:\/\/mcq-questions.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#primaryimage"},"datePublished":"2022-05-29T21:30:00+00:00","dateModified":"2022-05-19T06:36:53+00:00","author":{"@id":"https:\/\/mcq-questions.com\/#\/schema\/person\/4ba9570f32f2057e70e670c7885e47f3"},"breadcrumb":{"@id":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-3\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mcq-questions.com\/"},{"@type":"ListItem","position":2,"name":"MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers"}]},{"@type":"Person","@id":"https:\/\/mcq-questions.com\/#\/schema\/person\/4ba9570f32f2057e70e670c7885e47f3","name":"Prasanna","image":{"@type":"ImageObject","@id":"https:\/\/mcq-questions.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/174540ad43736c7d1a4c4f83c775e74d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/174540ad43736c7d1a4c4f83c775e74d?s=96&d=mm&r=g","caption":"Prasanna"},"url":"https:\/\/mcq-questions.com\/author\/prasanna\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/posts\/18377"}],"collection":[{"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/comments?post=18377"}],"version-history":[{"count":1,"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/posts\/18377\/revisions"}],"predecessor-version":[{"id":34720,"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/posts\/18377\/revisions\/34720"}],"wp:attachment":[{"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/media?parent=18377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/categories?post=18377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcq-questions.com\/wp-json\/wp\/v2\/tags?post=18377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}