Partnership

Dissolution

Easy

common

"Adjudication of a partner as an insolvent" leads to ________.

Dissolution by Agreement

Dissolution by Notice

Compulsory Dissolution

Dissolution on the happening of certain contingencies

✅ Correct Option: 4

NCERT states that, subject to the partnership agreement, a firm may be dissolved on the happening of certain contingencies. One such contingency is the adjudication of a partner as an insolvent.

Compulsory dissolution applies when all the partners, or all but one partner, become insolvent. Here the question refers to a partner becoming insolvent. Therefore, Option 4, Dissolution on the happening of certain contingencies, is correct.

2023: 29 May Shift 2

Match List I with List II

LIST I	LIST II
A. Transfer of accumulated profits	I. Realisation account
B. Unrecorded asset sold on dissolution of firm	II. Profit and Loss Account
C. Manager's commission	III. Profit and Loss Appropriation Account
D. Partner's commission	IV. Partner's Capital account

Choose the correct answer from the options given below:

2025: 3 June Shift 1

Match List-I with List-II

List–I (Events)	List–II (Result)
(A) Termination of business.	(I) Not possible in 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: 27 May Shift 2

Romesh took over Investments at Rs.8,100 which is 10% less then its book value. The book value of the investment was ____

2025: 4 June Shift 2

A partnership is not dissolved when:-

2025: 29 May Shift 2

At the time of dissolution, a firm transferred Rs.100,000 Assets to the realization account and 50% of the assets were taken over by Kiran at 20% discount. How much net assets were taken over by Kiran?

2023: 11 June Shift 3

Mukund's Loan of Rs. 50,000 to the firm, was settled at Rs. 55,000 at the time of firm's dissolution, where Mukund was one of the partner. What entry will be passed ?

"Adjudication of a partner as an insolvent" leads to ________.

Solution

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