CBSE  /  Class 12  /  Accountancy  /  Dissolution of a Partnership Firm

  • 1. 
    In the event of dissolution of partnership firm, the provision for doubtful debts is transferred to :

  • Realisation Account
  • Partners’ Capital Accounts
  • Sundry Debtors Account
  • None of the above

  • 2. 
    On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:

  • profit & Loss Account
  • Realisation Account
  • Partner’s Capital Account
  • Cash Account

  • 3. 
    At the dime of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :

  • Realisation Account
  • Creditors’ Account
  • Partners’ Capital Accounts
  • Profit & Loss Account

  • 4. 
    On dissolution, goodwill account is transferred to :

  • In the Capital Accounts of Partners
  • In the Credit of Cash Accounts
  • In the Debit of Realisation Account
  • In the Credit of Realisation Account

  • 5. 
    At the time of dissolution of partnership firm, fictitions assets are transferred to :

  • Capital Accounts of Partners
  • Realisation Account
  • Cash Account
  • Partners’ Loan Account

  • 6. 
    On dissolution of a firm, a partner paid 1,500 Rs. for firm’s realisation expenses. Which account will be debited ?

  • Cash Account
  • Realisation Account
  • Capital Account of the Partner
  • Profit & Loss A/c

  • 7. 
    On taking responsibility of payment of realisation expenses by a partner, the account credited will be :

  • Realisastion Account
  • Cash Account
  • Capital Account of the Partner
  • None of the above

  • 8. 
    When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :

  • Realisation Account
  • Partners’ Capital Account
  • Partner’s Loan Account
  • None of these

  • 9. 
    Which of the following is transferred to Realisation Account ?

  • Balance of Profit Account
  • Balance of Profit & Loss Account
  • Amount realised on sale of assets
  • Reserves

  • 10. 
    On disolution of firm, loss calculated in realisation account is debited/credited to which account ?

  • Cash Account
  • Partners’ Capital Accounts
  • Realisation Account
  • None of these
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