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
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
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
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
At the time of dissolution of partnership firm, fictitions assets are transferred to :
  • Capital Accounts of Partners
  • Realisation Account
  • Cash Account
  • Partners’ Loan Account
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
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
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
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
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
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
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
Cash balance shown in the Balance Sheet is shown on dissolution of firm in :
  • Realisation Account
  • Cash Account
  • Capital Account
  • None of the 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…….
  • ₹ 12,000
  • ₹ 10,500
  • ₹ 1,500
  • ₹ 32,500
On dissolution of a firm, Bank overdraft is transferred to:
  • Cash Account
  • Bank Account
  • Realisation Account
  • Partners’ Capital Account
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
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
On dissolution, when a partner takes over an asset……….is debited :
  • Realisation Account
  • Partner’s Capital Account
  • Cash Account
  • Asset 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 :
  • Never paid
  • Fully paid
  • Partly paid
  • None of these
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
0 h : 0 m : 1 s

Answered Not Answered Not Visited Correct : 0 Incorrect : 0