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CUET Accountancy 2026 PYQs6 June Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 6 June Shift 1

Dissolution

past year questions, Partnership, CUET Accountancy 2026 6 June Shift 1

Easy

common

On dissolution of a firm, Partner's Loan Account is transferred to:

Solution

✅ Correct Option: 1

A partner's loan is not an outside liability, so it is not transferred to the Realisation Account. It is paid off separately after outside liabilities by debiting Partner's Loan A/c and crediting Bank A/c, i.e., it is settled through the Bank Account.

Related questions:

2026: 19 May Shift 1

Profit & Loss Adjustment A/c is not prepared in which of the following case?

2025: 4 June Shift 2

In case of dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied in the following manner and order:

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

(B). The residue, if any, shall be divided among the partners in their profit sharing ratio.

(C). In paying the debts of the firm to third parties.

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

Choose the correct answer from the options given below:

2026: 29 May Shift 2

At the time of dissolution, creditors appear at Rs 50,000. Half of the creditors agreed to take unrecorded furniture of Rs 18,000 and Rs 5,000 in full settlement and the remaining creditors were paid 90%. The amount paid to the creditors that will be shown in the Realisation A/c is:

2025: 30 May Shift 1

On the dissolution of a firm, the Creditors are transferred to :

2025: 31 May Shift 1

Unrecorded liabilities when paid are shown in:

2025: 30 May Shift 1

Match List-I with List-II

List-IList-II
(A) On dissolution of a firm, creditors is transferred to:(I) Bank account is credited
(B) Unrecorded liabilities when paid:(II) Realization Account
(C) When realization expenses are paid by the firm on behalf of a partner, such expenses are(III) Bank account is debited.
(D) When unrecorded assets are sold(IV) Partner's Capital Account

Choose the correct answer from the options given below:

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