Partnership

Dissolution

Medium

common

Deferred revenue expenditure appearing in the old Balance Sheet at the time of Dissolution of partnership will be:

Debited to Partners' Capital A/c and distributed among all the partners in old ratio.

Credited to Partners' Capital A/c and distributed among all the partners in old ratio.

Debited to Partners' Capital A/c and distributed among all the partners in sacrificing ratio.

Credited to Partners' Capital A/c and distributed among all the partners in sacrificing ratio.

✅ Correct Option: 1

Deferred revenue expenditure is a fictitious asset with no realisable value, so it is not transferred to Realisation Account. It is written off directly by debiting the partners' capital accounts in their old profit sharing ratio.

2025: 27 May Shift 2

Match List-I with List-II

List-I	List-II
(Events)	(Result.)
(A) Termination of business.	(I) Not possible in the dissolution of partnership.
(b) Continuation of business	(II) Not possible in the dissolution of a firm.
(C) Intervention of court.	(III) Dissolution of firm
(D) Continuation of books of accounts.	(IV) Dissolution of partnership.

Choose the correct answer from the options given below:

2025: 2 June Shift 2

Match List-I with List-II

List-I	List-II
(Accounting standards Section of Act.)	(Issues)
(A) AS-3	(I) Settlement Of Accounts.
(B) AS-26	(II) Firm's debt and private debt
(C) Section 48 of the Indian partnership Act	(III) Cash flow statement.
(D) Section 49 of the Indian partnership Act	(IV) Treatment of goodwill.

Choose the correct answer from the options given below:

2025: 27 May Shift 1

Dissolution by Court happens:

2023: 20 June Shift 2

Unrecorded assets when taken over by a partner on dissolution are shown in:

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:

2026: 23 May Shift 2

Select the correct sequence of payment of the following from the amount realised by the sale of assets on the dissolution of a partnership firm.

A. Partners' capital

B. Residue (if any)

C. Partner's loan

D. Outside liabilities of the firm

Choose the correct answer from the options given below:

Deferred revenue expenditure appearing in the old Balance Sheet at the time of Dissolution of partnership will be:

Solution

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