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Class 12 Accountancy - Chapter 5: Dissolution of a Partnership Firm MCQ Questions

24 Questions 48 Minutes
Answered: 0 / 24Unanswered: 24

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Question 1

Revaluation account and reaLisation account are _______ accounts.

Question 2

At the time of dissolution of a partnership firm, all assets (except fictitious) are transferred to _______ account.

Question 3

At the time of dissolution of partnership firm, balance of cash and bank will be transferred to _____ account.

Question 4

After settlement of dissolving firm, bank account may have _____ balance.

Question 5

Realisation account can be prepared _______ in the life of firm.

Question 6

Goodwill already appearing in the balance sheet of the firm will be transferred on the ________ side of account.

Question 7

At the time of dissolution, partner’s loan account is closed by _______.

Question 8

After the dissolution of firm, business of the firm will automatically ______.

Question 9

At the time of dissolution of a firm, all assets and liabilities will be transferred to realisation account at ______ values.

Question 10

At the time of dissolution of partnership firm _______ account is prepared.

Question 11

Realisation expenses are debited to ________.

Question 12

Question 67.

Question 13

At the time of dissolution of firm, goodwill account is closed by transferring it to ________ account.

Question 14

On dissolution of a partnership firm, over draft will be transferred to _______.

Question 15

Revaluation account can be prepared ______ time(s) in the firm.

Question 16

Realisation account is a ________ account

Question 17

On dissolution, balance of partner’s capital account will be transferred to _____ account.

Question 18

Anu, Bina and Charan are partners. The firm had given a loan of ₹ 20,000 to Bina. They decided to dissolve the firm. In the event of dissolution, the loan will be settled by

Question 19

Accumulated profits are transferred to credit of _______.

Question 20

Unrecorded assets taken over any creditor will ______.

Question 21

Accumulated losses and reserves are transferred to debit of ________ A/c.

Question 22

When a partner agrees to receive the sum due to him in lump sum, ______ account is debited.

Question 23

Unrecorded liability will be ________ to realisation account when paid.

Question 24

At the time of dissolution of a partnership firm ___________ account is prepared.

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