Which mode of dissolution is highlighted in the above case? Option 1: Compulsory Dissolution Option 2: Dissolution by agreement Option 3: Dissolution by court Option 4: Dissolution on happening of contingencies

The answer is 'Dissolution by agreement'. View full solution:

CUET Accountancy - Which mode of dissolution is highlighted in the above case? | PYQs + Solutions

CUET Accountancy 2023 29 May Shift 2

Partnership

Easy

Compulsory Dissolution

Dissolution by agreement

Dissolution by court

Dissolution on happening of contingencies

✅ Correct Option: 2

Related questions:

27 May Shift 2

Identify the steps involved in the accounting treatment in the case of dissolution of firm:

(A) Capital accounts of partners are prepared and their final settlement is done.

(B) The balance of realisation account (profit or loss on realization) is transferred to partners' capital accounts in the profit sharing ratio.

(D) Realisation account is prepared.

(E) Bank account is prepared.

Choose the correct answer from the options given below:

29 May Shift 2

Arrange following in a sequence in which amount realised from Assets will be utilised to pay.

A. Partner's Loan

B. Partner's Capital

C. Secured debts of the firm

D. Unsecured debts of the firm

E. Residue to partners

Choose the correct answer from the options given below:

16 May Shift 1

While settlement of Accounts, what should be the order of application of assets of Firm

(A) In paying the debts of the firm to the third parties

(B) In paying to each partner proportionately what is due to him on account of capital

(D) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)

Choose the correct answer from the options given below: