On the dissolution of the partnership firm the amount realised from sale of assets shall be applied in following order.

(a) Distributing the amount left among the partners in their profit sharing ratio

(b) Paying amount due to partner on account of loan advanced by him

(c) Paying amount due to the creditors

(d) Paying partners' capital account balances

Choose the correct answer from the options given below :

Which of the following are the ways for the dissolution of a firm?

(A) Dissolution by Notice

(B) Dissolution by agreement

(C) Dissolution by court

(D) Dissolution by not terminating business

Choose the correct answer from the options given below:

Dissolution of a partnership firm may be ordered by the court on the following grounds:

(A) when a partner becomes insane.

(B) when a partner becomes permanently incapable of performing his duties as partner.

(C) when a partner acts in good faith

(D) when it is regarded just and equitable by the court.

Choose the correct answer from the options given below:

On dissolution of a firm, bank overdraft is transferred to :

The amount of sundry assets transferred to Realization account was Rs. 3,60,000; 50% of these have been sold at a profit of Rs. 75,000; 30% of the remaining assets were sold at a discount of 12% and remaining were taken over by Raman (a partner) at 25% above book value. At what value were the assets taken over by Raman :-

At the time of dissolution, when creditor accepts an asset whose value is much more than the amount due to him, he will _________ the excess amount which will be credited to _________ account?

In which of the following case court can order dissolution of a partnership firm.