Amount realised from sale of assets is recorded in :

Credit side of Realisation Account

Debit side of Realisation Account

Credit side of Realisation Account

Liabilities side of Balance Sheet

Insolvency of a partner will come under what type of dissolution of a firm ?

On happening of certain contingencies

On dissolution of a firm, realisation account is debited with:

All outside liabilities of the firm

Cash received on sale of assets

Any assets taken over by one of the partners

CBSE Class 12 Accountancy Dissolution of a Partnership Firm Quiz 4

5.

Which of the following is correct profit or loss in case the amount received from the sale of assets is ₹ 50,000, total assets is ₹ 60,000, total liabilities ₹ 20,000 and realisation expenses ₹ 2,000 ?

₹ 12,000 Loss

₹ 32,000 Profit

₹ 30,000 Loss

₹ 12,000 Profit

1.

Amount realised from sale of assets is recorded in :

2.

A firm can be voluntarily dissolved by the partners :

3.

On dissolution of a firm, amount realised from an unrecorded asset is credited to:

4.

Profit/loss on Realisation Account is distributed among partners:

5.

Which of the following is correct profit or loss in case the amount received from the sale of assets is ₹ 50,000, total assets is ₹ 60,000, total liabilities ₹ 20,000 and realisation expenses ₹ 2,000 ?

6.

What will be the total assets (except cash) of the firm from the following: if Creditor ₹ 15,000, Partner’s loan ₹ 10,000, Partners’ capital ₹ 40,000. Cash in hand ₹ 5,000

7.

If the total assets are ₹ 3,25,000 and the total outside liabilities ₹ 45,000 then the amount of all partner’s capital will be:

8.

Insolvency of a partner will come under what type of dissolution of a firm ?

9.

On firm’s dissolution, which one of the following account should be prepared at the last ?

10.

On dissolution of a firm, realisation account is debited with:

Time

1. Amount realised from sale of assets is recorded in :

2. A firm can be voluntarily dissolved by the partners :

3. On dissolution of a firm, amount realised from an unrecorded asset is credited to:

4. Profit/loss on Realisation Account is distributed among partners:

5. Which of the following is correct profit or loss in case the amount received from the sale of assets is ₹ 50,000, total assets is ₹ 60,000, total liabilities ₹ 20,000 and realisation expenses ₹ 2,000 ?

6. What will be the total assets (except cash) of the firm from the following: if Creditor ₹ 15,000, Partner’s loan ₹ 10,000, Partners’ capital ₹ 40,000. Cash in hand ₹ 5,000

7. If the total assets are ₹ 3,25,000 and the total outside liabilities ₹ 45,000 then the amount of all partner’s capital will be:

8. Insolvency of a partner will come under what type of dissolution of a firm ?

9. On firm’s dissolution, which one of the following account should be prepared at the last ?

10. On dissolution of a firm, realisation account is debited with:

Time

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1.

Amount realised from sale of assets is recorded in :

2.

A firm can be voluntarily dissolved by the partners :

3.

On dissolution of a firm, amount realised from an unrecorded asset is credited to:

4.

Profit/loss on Realisation Account is distributed among partners:

5.

Which of the following is correct profit or loss in case the amount received from the sale of assets is ₹ 50,000, total assets is ₹ 60,000, total liabilities ₹ 20,000 and realisation expenses ₹ 2,000 ?

6.

What will be the total assets (except cash) of the firm from the following: if Creditor ₹ 15,000, Partner’s loan ₹ 10,000, Partners’ capital ₹ 40,000. Cash in hand ₹ 5,000

7.

If the total assets are ₹ 3,25,000 and the total outside liabilities ₹ 45,000 then the amount of all partner’s capital will be:

8.

Insolvency of a partner will come under what type of dissolution of a firm ?

9.

On firm’s dissolution, which one of the following account should be prepared at the last ?

10.

On dissolution of a firm, realisation account is debited with: