Class 12  ( Accountancy ) Unit Test-II 
Accountancy
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Class *
Scholar No. *
1. Which of the following statement is correct? *
2. Excess amount that a firm gets over the market value of asset at the time of sale of its business is
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3.Capital employed by a partnership firm is Rs. 5, 00,000. Its value profit is Rs. 60,000. the normal rate of return is similar type of business is 10%. the amount of super profit is *
4. Raj & Associates is a partnership firm. It intends to value its Goodwill. Average profit for the past 5 years is Rs. 1,50,000 and Goodwill is being valued at 3 years purchased of average profit value of goodwill of the firm will be  *
5.  Weighted Average Profit Method of calculating goodwill is useful when *
6. Total Capital Employed  in the firm is  Rs. 8,00,000 Normal Rate of Return is 15% and profit for the year is Rs. 1,20,000. Value of Goodwill as per Capitalization Method would be.
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7. Under Super Profit Method, goodwill is calculated by:
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8. A firm earned Rs. 60,000 as Profit, the normal rate of return being 10%. Assets of the firm are Rs, 7,20,000(excluding goodwill) and Liabilities are Rs. 2,40,000. Find the value of goodwill by Capitalization of Average Profit Method.
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9. Tangible Assets of the firm are Rs. 14,00,000 and outside liabilities are Rs. 4,00,000. Profit of the firm is Rs. 1,50,000 and normal rate of return is 10%. The amount of Capital Employed will be-
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10. A and B were partners in a firm sharing profit or loss equally. With effect from 1st April, 2019 they agreed to share profits in the ratio of 4 : 3. Due to change in profit sharing ratio, B’s gain or sacrifice will be :
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11. When Goodwill is not purchased goodwill account can :
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12. X Y and Z are partners sharing profits and losses in the ratio 5 : 3 : 2. They decide to share the future profits in the ratio 3 : 2 : 1. Workmen compensation reserve appearing in the balance sheet on the date if no information is available for the same will be :
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13. Any change in the relationship of existing partners which results in an end of the existing agreement and enforces making of a new agreement is called
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14. If the Existing profit sharing ratio among A, B and C of 3 : 2 : 1 is changed to 1 : 2 : 3, then the partner whose share will be unaffected is / are- 
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15. Which of the following does not result into reconstitution of a firm?
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16. Increase and decrease in the value of assets and liabilities are recorded through 
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17. At the time of reconstitution of the firm, gaining partner compensates the sacrificing partner by paying proportionate amount of -
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18.The ratio in which a partner surrenders his share of profit in favour of a partner is known as
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19.  P and Q were partners sharing profits and losses in the ratio of 3 : 2. They decided that with effect from 1st January, 2019 they would share profits and losses in the ratio of 5 : 3. Goodwill is valued at Rs.1,28,000. In adjustment entry :
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20. Gaining Ratio :
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