A, B and C constituted a partnership to carry out a venture to build offices for Zakash Office Sites Ltd. On the completion of venture under which way the dissolution of a firm will takes place?

Choose combination of statements that are true about dissolution-

(A) Dissolution of partnership can not take place without intervention of the court.

(B) Court can order a firm to be dissolved when a partner becomes insane.

(C) A firm is compulsorily dissolved when a partner decide to retire.

(D) A partnership is dissolved when there is a death of a partner.

Choose the correct answer from the options given below:

1. (B) and (D) only
2. (A), (B) and (D) only
3. (A) and (D) only
4. (B), (C) and (D) only

After transferring liabilities like creditors and bills payables to the Realisation Account, in the absence of any information regarding their payment, such liabilities are treated as:

In the balance sheet Total Debtors appear at Rs. 1,50,000 and provision for doubtful debts appear at Rs. 1,500. How much amount will be realised from debtors, if bad debts amounted to Rs. 20,000 and remaining debtors realised at a discount of 15% ?

Dissolution of a firm takes place on the happening of certain contingencies. Choose them from the following :

(A) By the death of a partner

(B) By the adjudication of a partner as an insolvent

(C) When the business of the firm becomes illegal

(D) If constituted for a fixed term, by the expiry of that term

Choose the correct answer from the options given below:

On dissolution of a firm, the amount of loan taken from partner by firm will be transferred to

The order to be followed in preparation of realization account is.

(A) Realization of the assets.

(B) Transfer assets and liabilities to realization account.

(C) Ascertainment of profit or loss on realization.

(D) Payment of liabilities.

Choose the correct answer from the options given below: