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Class 12 Accountancy
Dissolution Of A Partnership Firm
Quiz 1
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In the event of dissolution of partnership firm, the provision for doubtful debts is transferred to :
0%
Realisation Account
0%
Partners’ Capital Accounts
0%
Sundry Debtors Account
0%
None of the above
Explanation
Realisation Account
On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:
0%
profit & Loss Account
0%
Realisation Account
0%
Partner’s Capital Account
0%
Cash Account
Explanation
Realisation Account
At the dime of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :
0%
Realisation Account
0%
Creditors’ Account
0%
Partners’ Capital Accounts
0%
Profit & Loss Account
Explanation
Partners’ Capital Accounts
On dissolution, goodwill account is transferred to :
0%
In the Capital Accounts of Partners
0%
In the Credit of Cash Accounts
0%
In the Debit of Realisation Account
0%
In the Credit of Realisation Account
Explanation
In the Debit of Realisation Account
At the time of dissolution of partnership firm, fictitions assets are transferred to :
0%
Capital Accounts of Partners
0%
Realisation Account
0%
Cash Account
0%
Partners’ Loan Account
Explanation
Capital Accounts of Partners
On dissolution of a firm, a partner paid 1,500 Rs. for firm’s realisation expenses. Which account will be debited ?
0%
Cash Account
0%
Realisation Account
0%
Capital Account of the Partner
0%
Profit & Loss A/c
Explanation
Realisation Account
On taking responsibility of payment of realisation expenses by a partner, the account credited will be :
0%
Realisastion Account
0%
Cash Account
0%
Capital Account of the Partner
0%
None of the above
Explanation
Capital Account of the Partner
When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :
0%
Realisation Account
0%
Partners’ Capital Account
0%
Partner’s Loan Account
0%
None of these
Explanation
Partners’ Capital Account
Which of the following is transferred to Realisation Account ?
0%
Balance of Profit Account
0%
Balance of Profit & Loss Account
0%
Amount realised on sale of assets
0%
Reserves
Explanation
Amount realised on sale of assets
On disolution of firm, loss calculated in realisation account is debited/credited to which account ?
0%
Cash Account
0%
Partners’ Capital Accounts
0%
Realisation Account
0%
None of these
Explanation
Partners’ Capital Accounts
Which of the following is not transferred to Realisatsion Account ?
0%
Balance of Cash Account
0%
Balance of Reserves
0%
Balance of Profit & Loss Account
0%
All of the above
Explanation
All of the above
On taking responsibility of payment of a liability of ₹ 20,000 by a partner, the account credited will be :
0%
Realisation Account
0%
Cash Account
0%
Capital Account of the Partner
0%
Liability Account
Explanation
Capital Account of the Partner
Cash balance shown in the Balance Sheet is shown on dissolution of firm in :
0%
Realisation Account
0%
Cash Account
0%
Capital Account
0%
None of the Account
Explanation
Cash Account
There was an Unrecorded asset of ₹ 12,000 which was taken over by a partner at ₹ 10,Partner’s Capital Account will be debited by…….
0%
₹ 12,000
0%
₹ 10,500
0%
₹ 1,500
0%
₹ 32,500
Explanation
₹ 10,500
On dissolution of a firm, Bank overdraft is transferred to:
0%
Cash Account
0%
Bank Account
0%
Realisation Account
0%
Partners’ Capital Account
Explanation
Realisation Account
On dissolution of a firm, Partner’s Loan Account is transferred to:
0%
Realisation Account
0%
Partner’s Capital Account
0%
Partner’s Current Account
0%
None of these
Explanation
None of these
On dissolution, Goodwill Account is transferred to :
0%
In the Capital Accounts of Partners
0%
On the Credit side of Cash Account
0%
On the Debit side of Realisation Account
0%
On the Credit side of Realisation Account
Explanation
On the Debit side of Realisation Account
On dissolution, when a partner takes over an asset……….is debited :
0%
Realisation Account
0%
Partner’s Capital Account
0%
Cash Account
0%
Asset Account
Explanation
Partner’s Capital Account
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 :
0%
Never paid
0%
Fully paid
0%
Partly paid
0%
None of these
Explanation
Fully paid
Unrecorded liabilities when paid are shown in :
0%
Debit side of Realisation Account
0%
Debit side of Bank Account
0%
Credit side of Realisation Account
0%
Credit side of Bank Account
Explanation
Debit side of Realisation Account
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