Partnership

Dissolution

Medium

common

In case of dissolution, match List-I with List-II.

List-I List-II
(A) Partner's Loan is transferred to (I) Credit side of Partners' Capital Account
(B) External Liabilities (appearing in balance sheet) are transferred to (II) Debit side of Partners' Capital Account
(C) The accumulated profits and reserves are transferred to (III) Bank Account
(D) The accumulated losses are transferred to (IV) Realisation A/c

Choose the correct answer from the options given below:

List-I	List-II
(A) Partner's Loan is transferred to	(I) Credit side of Partners' Capital Account
(B) External Liabilities (appearing in balance sheet) are transferred to	(II) Debit side of Partners' Capital Account
(C) The accumulated profits and reserves are transferred to	(III) Bank Account
(D) The accumulated losses are transferred to	(IV) Realisation A/c

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (II), (D) - (I)

✅ Correct Option: 1

A partner's loan is not routed through Realisation; it is paid off through the Bank Account (III). External liabilities go to Realisation Account (IV). Accumulated profits and reserves are credited to partners' capital accounts (I), while accumulated losses are debited to them (II).

2025: 3 June Shift 1

A firm is dissolved compulsorily in the following cases:

(A) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract

(B) when the business of the firm becomes illegal

(D) when some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership

Choose the correct answer from the options given below:

2026: 11 May Shift 2

Match the LIST-I with LIST-II

LIST-I		LIST-II
A. The accumulated profits and reserves are transferred to	I.	No journal entry
B. In case of dissolution partner's capital accounts are closed through	II.	Bank Account
C. Unrecorded assets are transferred to	III.	Partners' Capital Accounts
D. For settlement of the creditor's through transfer of assets in full and final settlement of his account	IV.	Realisation Account

Choose the correct answer from the options given below:

2025: 27 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Compulsory Dissolution	(I) A partner persistently commits breach of partnership agreement.
(B) Happening of contingencies	(II) Death of a partner
(C) Dissolution by Court	(III) According to contract between the partners.
(D) Dissolution by agreement	(IV) Business becomes illegal

Choose the correct answer from the options given below:

(A) - (IV), (B) - (I), (C) - (III), (D) - (II)
(A) - (II), (B) - (I), (C) - (IV), (D) - (III)
(A) - (IV), (B) - (II), (C) - (I), (D) - (III)
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

2025: 3 June Shift 2

At the time of the Dissolution of a Partnership Firm, which statement is not false :-

2026: 21 May Shift 2

In case of dissolution of a partnership firm, Match the LIST-I with LIST-II.

LIST-I		LIST-II
A.	Payment of outstanding bill for electricity expenses	I. Partners' Capital A/c will be credited
B.	Transfer of General Reserve	II. Partners' Capital A/c will be debited
C.	Transfer of Profit & Loss A/c (Dr. balance)	III. Realisation A/c will be credited
D.	Cash sale of machinery	IV. Cash/Bank A/c will be credited

Choose the correct answer from the options given below:

2023: 11 June Shift 3

Which of the following will not be shown in Realisation Account ?

Solution

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