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Question: In a partnership, how is the profit-sharing ratio determined?Options: Equally among all pa..
Question: What is the journal entry for a partner withdrawing cash from the partnership?Options: Deb..
Question: Which accounting standard governs the accounting for partnerships?Options: IFRS 1IAS 2IFRS..
Question: What is the purpose of preparing a final account for a partnership?Options: To determine t..
Question: How is depreciation calculated for a partnership firm?Options: Straight-line method onlyDe..
Question: Which of the following accounts is NOT included in a trial balance?Options: AssetsLiabilit..
Question: What is the journal entry to record the initial capital contribution of a partner?Options:..
Question: What is the impact of revaluation of assets on partners\' capital accounts?Options: Increa..
Question: In a partnership, what is the purpose of the Profit and Loss Appropriation Account?Options..
Question: What is the journal entry to record the profit sharing among partners?Options: Debit Profi..
Question: Which inventory valuation method is commonly used in partnership accounting?Options: FIFOL..
Question: What is the journal entry for recording depreciation on a partnership asset?Options: Debit..
Question: How is the net profit of a partnership firm distributed among partners?Options: Equally am..
Question: Which of the following accounts is NOT included in the trial balance of a partnership?Opti..
Question: What is the journal entry to record the capital contribution of a partner in a partnership..
Question: What is the purpose of preparing a trial balance in partnership accounting?Options: To det..
Question: Which method of inventory valuation is commonly used in partnership accounting?Options: FI..
Question: What is the impact of depreciation on the final accounts of a partnership?Options: Increas..
Question: How is the profit-sharing ratio determined when a new partner is admitted?Options: Equal d..
Question: What is the journal entry for the revaluation of assets when a new partner is admitted?Opt..
Question: What is the effect of a partner\'s withdrawal on the trial balance?Options: Assets increas..
Question: What is the journal entry to record the admission of a new partner who brings in cash?Opti..
Question: What is the purpose of preparing a trial balance?Options: To determine the net incomeTo en..
Question: What is the effect of a partner\'s withdrawal on the partnership\'s capital accounts?Optio..
Question: What is the primary accounting standard governing partnerships?Options: IFRS 10IAS 1AS 26A..
Question: Which method of depreciation is commonly used for partnership firms?Options: Straight Line..
Question: What is the journal entry to record the capital contribution of a partner in a partnership..
Question: What is the effect of a partner\'s withdrawal on the partnership\'s capital?Options: Incre..
Question: When a partner contributes an asset to the partnership, how is it recorded?Options: Debit ..
Question: Which accounting standard governs the accounting treatment of partnerships?Options: AS 1AS..
