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

  • 1. 
    Unrecorded liabilities when paid are shown in :

  • Debit side of Realisation Account
  • Debit side of Bank Account
  • Credit side of Realisation Account
  • Credit side of Bank Account

  • 2. 
    Payment of credit balance of Partners’ Capital Accounts at the time of dissolution of a firm is made to:

  • Partners
  • Firm
  • Wife
  • None of these

  • 3. 
    On dissolution of a firm Partner’s Loan A/c is transferred to:

  • Realisation A/c
  • Partners’ Capital A/cs
  • Suspense A/c
  • None of these

  • 4. 
    At the time of dissolution of firm book value of assets is recorded in which side of the Realisation Account ?

  • Debit Side
  • Credit Side
  • All of the above
  • Liabilities Side

  • 5. 
    Realisation expenses are recorded in which side of Realisation A/c:

  • Liabilities
  • Assets
  • Credit
  • Debit

  • 6. 
    Realisation Account is a :

  • Personal A/c
  • Nominal A/c
  • Read A/c
  • None of these

  • 7. 
    On dissolution of the firm, Partners’ Capital Accounts are closed through :

  • Realisation Account
  • Drawings Account .
  • Bank Account
  • Loan Account

  • 8. 
    Unrecorded assets when taken over by a partner are shown in:

  • Debit side of Realisation A/c
  • Debit side of Bank A/c
  • Credit side of Realisation A/c
  • Credit side of Bank A/c

  • 9. 
    Expenses on dissolution of firm is called :

  • Realisation Expenses
  • Legal Expenses
  • Loss Expenses
  • None of these

  • 10. 
    Sundry creditors amounted to ₹ 8,000. They were paid at a discount of 5 %. Realisation A/c will be debited by :

  • ₹ 8,000
  • ₹ 7,600
  • ₹ 400
  • ₹ 8,400
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