Partnership Fundamentals: Chapter Test (CBSE Class 12)
Chapter test on Partnership Fundamentals for CBSE Class 12: partnership deed, interest, salary, commission, drawings, appropriation, capital methods and guarantee.
Last updated October 2026
English
Test Package
Access this test package with 1 full-length mock tests (1 free tests included)
Test series content
1 tests•30 total questions•1 free tests
Partnership Fundamentals: Chapter Test
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What you'll master
Revise every concept of Partnership Fundamentals in one 30-question test
Calculate interest on capital and drawings with different withdrawal patterns
Work out commission and transfer to reserve using the correct formulas
Handle insufficient profit, guarantee of profit and past adjustments
Learn from a written explanation for every answer
Description
Partnership Fundamentals: Chapter Test (CBSE Class 12)
A complete chapter test on Partnership Fundamentals for CBSE Class 12 Accountancy. One test, 30 questions, 2 marks each (total 60 marks), no negative marking, and an explanation for every answer.
What's covered
- Partnership basics: definition, minor partner, maximum partners, registration
- Provisions when there is no deed: profit sharing, interest on loan, capital and drawings, remuneration
- Charge vs appropriation of profit
- Interest on capital and drawings: additional capital, withdrawals, product method, average period
- Commission before and after charging, manager's commission
- Profit & Loss Appropriation A/c: transfer to reserve, divisible profit, insufficient profit
- Fixed and fluctuating capitals and opening capital
- Past adjustments and guarantee of profit
Who it's for
- CBSE Class 12 Commerce students revising Partnership Accounts
- Students who want practice on interest and appropriation numericals
Key highlights
- 30 questions on the whole chapter
- Concept, numerical and assertion-reason questions
- Explanations for every answer
- Free for everyone
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