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Important Questions

Admission Of Partner

Telangana Open School (TOSS) · Class 12 · Accountancy

Most important questions from Admission Of Partner for Telangana Open School (TOSS) Class 12 Accountancy board exam 2026. MCQs, short answer, and long answer questions with marks.

48 questions20 flashcards5 concepts

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48 Questions·
multiple choicetrue falsemultiple correct

Sample Questions

1multiple choice
1 marks

Goodwill is the value of a firm's:

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Reputation and expected future profits

Goodwill represents the firm's reputation and its ability to earn more than normal profits in the future.

2multiple choice
1 marks

If a new partner is admitted for a 1/5 share and the old partners continue in their old ratio, what portion of the profit is left for the old partners?

Show answer

4/5

If the new partner takes 1/5, the remaining share is 1 - 1/5 = 4/5, which is shared by the old partners.

3multiple choice
1 marks

Which of the following is NOT a method of valuing goodwill?

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Straight Line Method

Straight Line Method is used for depreciation, not for valuing goodwill. The others are standard methods for goodwill valuation.

4multiple choice
1 marks

When a new partner brings cash for goodwill, it is credited to:

Show answer

Goodwill Premium Account

The amount brought for goodwill is first credited to the Goodwill Premium Account before being distributed to old partners.

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Frequently Asked Questions

What are the important topics in Admission Of Partner for Telangana Open School (TOSS) Class 12 Accountancy?
Admission Of Partner covers several key topics that are frequently asked in Telangana Open School (TOSS) Class 12 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Admission Of Partner — Telangana Open School (TOSS) Class 12 Accountancy?
Understand the core concepts first, then work through the 48 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.
How many important questions are there in Admission Of Partner?
There are 48 practice questions available for Admission Of Partner. These cover multiple question types including MCQs, short answer, and long answer questions.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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