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

  • 1. 
    Which of the following is not transferred to Realisatsion Account ?

  • Balance of Cash Account
  • Balance of Reserves
  • Balance of Profit & Loss Account
  • All of the above

  • 2. 
    On taking responsibility of payment of a liability of ₹ 20,000 by a partner, the account credited will be :

  • Realisation Account
  • Cash Account
  • Capital Account of the Partner
  • Liability Account

  • 3. 
    Cash balance shown in the Balance Sheet is shown on dissolution of firm in :

  • Realisation Account
  • Cash Account
  • Capital Account
  • None of the Account

  • 4. 
    There was an Unrecorded asset of ₹ 12,000 which was taken over by a partner at ₹ 10,500. Partner’s Capital Account will be debited by…….

  • ₹ 12,000
  • ₹ 10,500
  • ₹ 1,500
  • ₹ 32,500

  • 5. 
    On dissolution of a firm, Bank overdraft is transferred to:

  • Cash Account
  • Bank Account
  • Realisation Account
  • Partners’ Capital Account

  • 6. 
    On dissolution of a firm, Partner’s Loan Account is transferred to:

  • Realisation Account
  • Partner’s Capital Account
  • Partner’s Current Account
  • None of these

  • 7. 
    The accumulated profits and reserves are transferred to:

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

  • 8. 
    On dissolution, Goodwill Account is transferred to :

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

  • 9. 
    On dissolution, when a partner takes over an asset……….is debited :

  • Realisation Account
  • Partner’s Capital Account
  • Cash Account
  • Asset Account

  • 10. 
    After transferring liabilities like creditors and bills payable in the Realisation Account in the absence of any informations regarding their payment, such liabilities are treated as :

  • Never paid
  • Fully paid
  • Partly paid
  • None of these
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