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Profit Sharing Ratio and Capital Accounts MCQs for Competitive Exams

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Profit Sharing Ratio and Capital Accounts MCQs for Competitive Exams

Practice with answers, explanations, and exam-focused revision notes.

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Topic Notes: Profit Sharing Ratio and Capital Accounts

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Quick Overview

Profit Sharing Ratio and Capital Accounts MCQs in Commerce are useful for candidates who need targeted practice for CSS, PMS, FPSC, PPSC, NTS, entry tests, and other competitive exams in Pakistan. This topic page is designed for quick revision, repeated practice, and exam-focused preparation.

Attempt the questions page by page, check the correct answers, read the explanations where available, and compare your weak areas with past papers and mock test performance. Consistent MCQ practice improves speed, confidence, and retention for objective exam sections.

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1
A, B, and C each invest Rs. 20,000. After 5 months, A withdraws Rs. 6,000, B withdraws Rs. 4,000, and C invests an additional Rs. 6,000. Given a total annual profit of Rs. 69,900, what is each partner's share?
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2
Charulata withdrew Rs. 10,000 at the beginning of each quarter. Calculate the interest on her drawings at 9% per annum for the year ending March 31, 2019.
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3
Match the following partnership concepts with their corresponding definitions or ratios.
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4
What are the legal requirements regarding the form of a partnership agreement?
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5
Partners A and B share profits equally. A withdraws Rs. 400 at the end of each month for the six-month period ending June 30, 2008. Calculate the interest on drawings at 5% per annum.
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6
Which of the following items are typically recorded in the Profit and Loss Appropriation account?
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7
In which business structure is a capital account specifically maintained for the owners?
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8
What is the standard nature of a partner's liability in a general partnership firm?
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9
What is the nature of a partner's liability regarding the debts and obligations of the partnership firm?
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10
Calculate the total amount Partner A receives given a net income of Rs. 90,000, interest on capital at 10%, and specific salary allocations.
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