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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..
Question: What is the primary purpose of preparing a final account for a partnership firm?Options: T..
Question: In inventory valuation, which method is NOT acceptable under accounting standards?Options:..
Question: What method of depreciation is commonly used in partnership firms for fixed assets?Options..
Question: How is goodwill treated when a partner retires from a partnership?Options: Goodwill is wri..
Question: Which of the following is NOT included in the trial balance of a partnership firm?Options:..
Question: What is the journal entry to record the admission of a new partner in a partnership firm?O..
Question: What is the effect of revaluation of assets on partners\' capital accounts?Options: Increa..
Question: In a partnership, how is profit typically distributed among partners?Options: EquallyBased..
Question: What is the primary purpose of preparing a trial balance?Options: To calculate net incomeT..
Question: When a partner withdraws from the partnership, what is the journal entry?Options: Debit Ca..
Question: What accounting standard governs the recognition of revenue in partnerships?Options: IFRS ..
Question: Which inventory valuation method is often preferred by partnerships for tax purposes?Optio..
Question: What method of depreciation is commonly used for partnership assets?Options: Straight-line..
