CUET Accountancy Partnership > Dissolution PYQs

In case of dissolution of firm, the bank overdraft is transferred to:

According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

In case of Fixed Capital Method, at the time of dissolution of a firm, An un-recorded asset are taken over by a partner, which Journal Entry will be recorded in the books of the Partnership Firm :-

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:

A partnership is not dissolved when:-

At the time of dissolution, when creditor accepts an asset whose value is much more than the amount due to him, he will _________ the excess amount which will be credited to _________ account?

What journal entry will be passed for settlement of loan from a partner of Rs. 50,000 by paying Rs. 45,000 at the time of dissolution of a firm :-

As per Section 48 of the Partnership Act 1932, which of the following will be utilized for payment of losses, including deficiencies of capital: (A) Out of Profits (B) Out of capital of Partners (C) By partners individually in their profit sharing ratio (D) Creditors Assets Choose the correct answer from the options given below:

Which of the following combination of statements are true about dissolution- (A). A firm is compulsorily dissolved when a partner decide to retire. (B). Dissolution of a partnership is different from dissolution of a firm. (C). A partnership is dissolved when there is a death of a partner. (D). Dissolution of a firm necessarily involves dissolution of partnership. Choose the correct answer from the options given below:

The following are the features of the Dissolution of Partnership: (A) Assets and liabilities are revalued, and a new balance sheet is drawn. (B) Economic relationships between partners continue, though in a changed form. (C) The business is not terminated. (D) The books of account are closed. Choose the correct answer from the options given below:

According to Section ______ of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

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

Arrange the following in correct order in which assets of the firm can be used in the settlement. (A) Residue shall be divided between the partners in their profit sharing ratio. (B) In paying the partners proportionately what is due to him/her on account of capital. (C) In paying the partners proportionately what is due to him/her from the firm for advances/loans. (D) In paying the debts of the firm to the third parties. Choose the correct answer from the options given below:

At the time of dissolution, if an asset is taken over by a partner, what journal will be recorded in the books of the firm :-

Dissolution of a partnership firm may be ordered by the court on the following grounds: (A) when a partner becomes insane. (B) when a partner becomes permanently incapable of performing his duties as partner. (C) when a partner acts in good faith (D) when it is regarded just and equitable by the court. Choose the correct answer from the options given below:

The dissolution of partnership may take place in any of the following ways except:

Which statement is not false, in respect of the dissolution of a partnership firm :-

At the time of dissolution of a firm, the Bank Loan was Rs. 60,000 which was paid by Bhuvan (a partner) along with one-year interest at 6 %, which journal entry will be passed in the books of the firm :-

In the case of the Dissolution of partnership firm, which accounts are opened: (A) Realization Account (B) Revaluation Account (C) Partners Capital Account (D) Bank Account

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:

According to section _________ of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

On dissolution of a partnership firm, the bills payable is transferred to :

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

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 (C) when the business of the firm is earning a large amount of profit. (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:

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:

When a partnership firm is being dissolved, the private property of any partner shall be applied first, in payment of __________ and the surplus, if any, may be utilised for payment of __________, in case the firm's liabilities exceed the firm's assets.

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

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

Partner's current accounts are transferred to respective Partners' _____________________.

Section 49, of the Indian Partnership Act 1932, deals with

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:

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:

Unrecorded Debtors, are realised at the time of dissolution of a Partnership Firm, will be shown in:

When realisation expenses are paid by the Partner on behalf of a Firm, which account will be credited:

On the happening of certain contingencies, Subject to contract between the partners, a firm is dissolved , (A) if constituted for a fixed term, by the expiry of that term. (B) if constituted to carry out one or more ventures, by the completion thereof. (C) by the death of a partner (D) by the adjudication of a partner as an insolvent Choose the correct answer from the options given below:

An unrecorded asset is taken over by a creditor in full settlement in such a case

Match List-I with List-II | List-I | List-II | |---|---| | (Events) | (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:

Anubha looked after the dissolution work for remuneration of Rs. 8,500 and agreed to bear dissolution expenses upto Rs. 6,000. Actual expenses paid by her were Rs. 7,600. What will be the journal entry for remuneration payable to Anubha? (A) Realisation A/c is debited by 8,500 (B) Anubha's Capital A/c is credited by 8,500. (C) Realisation A/c is debited by13,600. (D) Anubha's Capital is credited by13,600. 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

Unrecorded liabilities when paid are shown in:

Dissolution of a firm cannot take place in which of the situation-

The Court may order a partnership firm to be dissolved in which of the following case?

In the case of dissolution of a partnership firm, the accumulated profits and reserves are transferred to :

On dissolution of the firm, partner's capital accounts are closed through:

On dissolution of a firm, partner's loan account is transferred to:

According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

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

Which combination of statements is true about dissolution- (A). Dissolution of a partnership is different from dissolution of a firm. (B). A partnership is dissolved when there is a death of a partner. (C). A firm is dissolved when all partners give consent to it. (D). A firm is compulsorily dissolved when a partner decides to retire. Choose the correct answer from the options given below:

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

Which account is debited for Realisation expenses paid?

Which combination of statements is true about dissolution- (A). Dissolution of a partnership is different from dissolution of a firm. (B). A partnership is dissolved when there is a death of a partner. (C). A firm is dissolved when all partners give consent to it. (D). A firm is compulsorily dissolved when a partner decides to retire. Choose the correct answer from the options given below:

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange in the correct manner and order the assets of the firm, including any sum contributed by the partners to make up for deficiencies of capital: (A) In paying to each partner proportionately what is due to him on account of capital (B) In paying the debts of the firm to the third parties (C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan) (D) The residue, if any, shall be divided among the partners in their profit sharing ratio Choose the correct answer from the options given below:

Unrecorded liabilities when paid are shown in:

A partnership firm is dissolved compulsorily in the following cases: (A) when all the partners or all but except one partner, become insolvent, rendering them incompetent to sign a contract: (B) When the business of the firm becomes illegal (C) Change in existing profit sharing ratio among partners (D) When some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership, e.g., when a partner who is a citizen of a country becomes an alien enemy because of the declaration of war with his country and India. Choose the correct answer from the options given below:

All assets (except cash/bank and fictitious assets) are transferred to the ................... side of ................... Account.

When realisation expenses are paid by the firm on behalf of a partner, which account will be debited:

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

Match List-I with List-II | List-I | List-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:

On dissolution of the firm, partner's capital accounts are closed through:

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange the following in the correct sequence : (A) In paying to each partner proportionately what is due to him on account of capital (B) In paying the debts of the firm to the third parties (C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan) (D) The residue, if any, shall be divided among the partners in their profit sharing ratio Choose the correct answer from the options given below:

Which item among the following is NOT listed on the credit side of a Realization Account?

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 (C) Change in existing profit sharing ratio among partners (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:

Unrecorded liabilities when paid are shown in:

When a firm is dissolved, Provision for Bad and Doubtful Debt Account :-

When a firm is dissolved, the Balance of Investment Account and Balance of Investment Fluctuation Fund Account, shown by Firm's Balance Sheet are transferred into _________and into _________respectively:-

All assets (except cash/bank and fictitious assets) are transferred to the__________ side of __________Account.

Which of the following will lead to dissolution of partnership firm by agreement?

In which of the following case court can order dissolution of a partnership firm.

Dissolution of a partnership firm may be ordered by the court on the following grounds: (A) when a partner becomes insane. (B) when a partner becomes permanently incapable of performing his duties as partner. (C) when a partner acts in good faith (D) when it is regarded just and equitable by the court. Choose the correct answer from the options given below:

According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

Stock at the time of dissolution was appearing in books at Rs 50,000. Half of the stock was sold at a discount of 20% and the remaining was taken over by one of the partners at a 10% discount. What amount was received in cash at the time of realization of stock.

Match List-I with List-II | List-I | List-II | |---|---| | (A). Compulsory Dissolution | (I). Partner becomes insane. | | (B). Dissolution by notice | (II). Death of a partner. | | (C). Dissolution by Court | (III). Business become illegal. | | (D). Dissolution on certain contingencies | (IV). Partnership at will. | Choose the correct answer from the options given below:

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?

In case of dissolution of a partnership firm, losses, including deficiencies of capital, shall be paid first out of ...............

Match List-I with List-II | List-I | List-II | |---|---| | (A). Payment of loans due to partners | (i). Realisation A/c Dr To Bank A/c | | (B). For settlement of partners' accounts, in case their capital account shows a debit balance. | (ii). Bank A/c Dr. To loan to partners A/c | | (C). For settlement of loan by a firm to a partner: | (iii) Bank A/c Dr. To Partner's Capital A/c | | (D). For settlement of any unrecorded liability | (iv) Partner's Loan A/c Dr. To Bank A/c | Choose the correct answer from the options given below:

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:

Which Journal Entry will be recorded for realization of unrecorded asset at the time of dissolution of a Partnership Firm.

In the case of dissolution of a partnership firm, unrecorded liabilities when paid are shown in:

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

Identify the steps involved in the accounting treatment in the case of dissolution of firm: (A) Capital accounts of partners are prepared and their final settlement is done. (B) The balance of realisation account (profit or loss on realization) is transferred to partners' capital accounts in the profit sharing ratio. (C) All assets and all external liabilities are transferred to realisation account. (D) Realisation account is prepared. (E) Bank account is prepared. Choose the correct answer from the options given below:

Anubha looked after the dissolution work for remuneration of Rs. 8,500 and agreed to bear dissolution expenses upto Rs. 6,000. Actual expenses paid by her were Rs. 7,600. In this case, (A) Realisation A/c is debited by Rs. 10,100 (B) Anubha's Capital A/c is credited by Rs. 9,600. (C) Realisation A/c is debited by Rs. 13,600. (D) Anubha's Capital is credited by Rs. 10100. Choose the correct answer from the options given below:

In which of the following ways does dissolution of a firm take place? (A) Dissolution by agreement (B) Compulsory dissolution (C) On the happening of certain contingencies (D) Dissolution by notice Choose the correct answer from the options given below:

On the happening of certain contingencies, Subject to contract between the partners, a firm is dissolved , (A) if constituted for a fixed term, by the expiry of that term. (B) If constituted to carry out one or more ventures, by the completion thereof. (C)by the death of a partner (D) by the adjudication of a partner as an insolvent Choose the correct answer from the options given below:

At the time of dissolution of a Firm, the Loan from a Partner Account should be

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:

Under which condition, dissolution of a Partnership Firm by Court may take place :-

Unrecorded Liabilities when paid are shown in:

Dissolution by Court happens:

Partner's current accounts are transferred to respective________ partner's accounts.

On dissolution of a firm, bank overdraft is transferred to:

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: 1. (A) - (IV), (B) - (I), (C) - (III), (D) - (II) 2. (A) - (II), (B) - (I), (C) - (IV), (D) - (III) 3. (A) - (IV), (B) - (II), (C) - (I), (D) - (III) 4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

In the case of a dissolution of a firm, accumulated losses are transferred to:

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

Arrange the following in correct sequence in the case of dissolution of a partnership. (A) Preparing a Bank account (B) Realizing assets and payments of liabilities. (C) Transferring of assets and liabilities in realization account. (D) Preparation of capital account of partners. Choose the correct answer from the options given below: 1. (A), (C), (B), (D) 2. (B), (C), (D), (A) 3. (B), (A), (D), (C) 4. (C), (B), (D), (A)

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

In which of the following situation compulsory dissolution of partnership can be done?

Partners' current accounts are transferred to respective Partners' ______ Accounts.

When a firm is dissolved, the Balance of Investment Account and Balance of Investment Fluctuation Fund Account, shown by Firm's Balance Sheet are transferred into ............... and into ............... respectively:-

Arrange the following in correct sequence for application of assets in the Settlement of Accounts in Case Of Dissolution of a Partnership firm - (A) The balance should be applied to repay loans made by the partners to the firm. (B) The assets of the firm should be used in paying the debts of the firm to third parties. (C) The balance assets may be used for paying partners proportionately, on account of capital. (D) The asset's residue, if any, shall be divided among the partners in their profit sharing ratio. Choose the correct answer from the options given below:

Realisation account doesn't show-

Which of the following statements are true: (A) Dissolution of a partnership is different from dissolution of a firm. (B) A partnership is dissolved when there is a death of a partner. (C) A firm is dissolved when all partners give consent to it. (D) A firm is compulsorily dissolved when a partner decide to retire. Choose the correct answer from the options given below:

As per Section 48 of the Partnership Act 1932, which of the following will be utilized for payment of losses, including deficiencies of capital: (A) Out of Profits (B) Out of capital of Partners (C) By partners individually in their profit sharing ratio (D) Creditors Assets Choose the correct answer from the options given below:

In the case of dissolution of firm, accumulated losses are transferred to:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Dissolution of firm by agreement | (I) When a partner becomes insane | | (B) Compulsory dissolution of firm | (II) With the consent of all partners | | (C) Dissolution of firm by notice | (III) When business of a firm becomes illegal | | (D) Dissolution of firm by Court | (IV) At the request of any one partner | Choose the correct answer from the options given below:

In case of dissolution of partnership firm, any liability assumed/paid by a partner is shown on ........?

All assets except cash/bank and fictitious assets are transferred to the Debit side of the ______Account.

Which of the following statements truly makes the distinction between Dissolution of Partnership and Dissolution of Firm: (A) In dissolution of partnership, business is not terminated, while in dissolution of firm business is terminated. (B) The Court intervenes in dissolution of Partnership because a partnership is not dissolved by mutual agreement. A firm can not be dissolved by court order. (C) Economic relationships between partners continue in a changed form in dissolution of partnership. Economic relationships between the partners come to an end at the dissolution of the Firm. (D) Dissolution of Partnership doesn't require permanent closure of books, while in Dissolution of firm books are closed. Choose the correct answer from the options given below:

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 the dissolution of a firm, creditors is transferred to:

According to Section ………. of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

When a partnership firm is dissolved, final payment made to partners is transferred to

Which of the following indicate the situation of compulsory dissolution.

Match List-I with List-II | List-I | List-II | |---|---| | (Transaction) | (Relevant account) | | (A) Settlement of Partners Loan | (I) Credit side of Realization A/c | | (B) Transfer of liabilities | (II) Partner's Capital will be credited | | (C) Transfer of Assets | (III) Credit Side of Bank A/c | | (D) Remuneration payable to partner | (IV) Debit Side of Realization A/c | Choose the correct answer from the options given below:

Which of the following are the ways for the dissolution of a firm? (A) Dissolution by Notice (B) Dissolution by agreement (C) Dissolution by court (D) Dissolution by not terminating business Choose the correct answer from the options given below:

The assets of the firm, including any sum contributed by the partners to make deficiencies of capital, shall be applied first for paying ………….

In case of dissolution Machine costing Rs 20,000, alongwith cash of Rs 5,000 were given to creditors of Rs 30,000 in full settlement of their claim. In this case Realisation A/c will be Debited with ………….

When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to

Ram, a partner, has been assigned the responsibility for realization of assets and settlement of liability for which he will be given remuneration of ₹ 10,000. He has to bear all the realization expenses. Actual realization expenses are 12,000. Journal Entry will be

If the asset is taken over by the creditor in lieu of the amount due to him, then the journal entry will be:

When realisation expenses are paid by the firm on behalf of a partner, which among the following will be debited:

The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be utilized in which sequence? Arrange the following in proper sequence (A) In paying the debts of the firm to the third parties (B) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan) (C) In paying to each partner proportionately what is due to him on account of capital (D) The residue, if any, shall be divided among the partners in their profit sharing ratio Choose the correct answer from the options given below:

Partner's current accounts are transferred to the respective partners' ________ at the time of dissolution of a partnership.

One of the partner took-over furniture at the time of dissolution of the firm, which account will be debited:

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Losses, including deficiencies of capital, shall be paid in the following manner and order: (A) Out of capital of partners. (B) By the partners individually in their profit sharing ratio. (C) Profits. Choose the correct answer from the options given below:

In the case of a dissolution of a firm, accumulated losses are transferred to:

In the case of the Dissolution of partnership firm, which accounts are opened: (A) Realization Account (B) Revaluation Account (C) Partners Capital Account (D) Bank Account Choose the correct answer from the options given below:

Dissolution of a firm takes place on the happening of certain contingencies in the following cases: (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:

When a firm is dissolved with the consent of all the partners, it is called:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Meaning of Dissolution | (I) Section 49,of the partnership Act 1932 | | (B) Application of Assets | (II) Section 39,of the partnership Act 1932 | | (C) Private Debts Vs Firm's Debts | (III) Section 4,of the partnership Act 1932 | | (D) Nature of Partnership | (IV) Section 48,of the partnership Act 1932 | Choose the correct answer from the options given below:

Valuation of goodwill is not done in which of the following case?

Match List-I with List-II | List-I | List-II | |---|---| | (A) Increase in assets at the time of retirement | (I) Debit side of Realisation Account | | (B) Asset taken over by the partner at the time of dissolution of the firm | (II) Credit side of Revaluation Account | | (C) Unrecorded Liability at the time of admission of the partner | (III) Credit side of Realisation Account | | (D) Remuneration paid for realization of assets | (IV) Debit side of Revaluation Account | Choose the correct answer from the options given below:

While settlement of Accounts, what should be the order of application of assets of Firm (A) In paying the debts of the firm to the third parties (B) In paying to each partner proportionately what is due to him on account of capital (C) divided among the partners in their profit sharing ratio. (D) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan) Choose the correct answer from the options given below:

In which of the following case court can order dissolution of a partnership firm.

Which of the following will lead to dissolution of partnership firm?

In case of dissolution of a partnership firm, losses, including deficiencies of capital, shall be paid first out of ...............

Neil, Kapil, Sunil started a furniture business in partnership. After one year of their operation, they started exporting Opium by keeping them in blank spaces between the furniture. As authorities came to know about the illegal business of the firm, they will compel them for .......

Which of the following event take place in the case of dissolution of a partnership firm

According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

Stock at the time of dissolution was appearing in books at Rs 50,000. Half of the stock was sold at a discount of 20% and the remaining was taken over by one of the partners at a 10% discount. What amount was received in cash at the time of realization of stock.

Match List-I with List-II | List-I | List-II | |---|---| | (A) Payment of loans due to partners | (I) Realisation A/c Dr To Bank A/c | | (B) For settlement of partners' accounts, in case their capital account shows a debit balance | (II) Bank A/c Dr. A/c To loan to partners | | (C) For settlement of loan by a firm to a partner | (III) Bank A/c Dr. To Partner's Capital A/c | | (D) For settlement of any unrecorded liability | (IV) Partner's Loan A/c Dr. To Bank A/c | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Compulsory Dissolution | (I) Partner becomes insane | | (B) Dissolution by notice | (II) Death of a partner | | (C) Dissolution by Court | (III) Business become illegal | | (D) Dissolution on certain contingencies | (IV) Partnership at will | Choose the correct answer from the options given below:

Arrange the following in the sequence in which they shall be applied in payment at the time of dissolution of a firm: (A) The debts of the firm to the third parties. (B) Partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan). (C) Each partner proportionately what is due to him on account of capital. (D) Divided among the partners in their profit sharing ratio. Choose the correct answer from the options given below:

According to section ......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

On dissolution of the firm, partner's capital accounts are closed through-

The Court may order a partnership firm to be dissolved in which of the following case?

Which combination of statements is true about dissolution- (A) Dissolution of a partnership is different from dissolution of a firm. (B) A partnership is dissolved when there is a death of a partner. (C) A firm is dissolved when all partners give consent to it. (D) A firm is compulsorily dissolved when a partner decides to retire. Choose the correct answer from the options given below:

When realisation expenses are paid by the firm on behalf of a partner, which account will be debited :

Unrecorded liabilities when paid are shown in:

Which of the following combination of statements are true about dissolution- (A) A firm is compulsorily dissolved when a partner decide to retire. (B) Dissolution of a partnership is different from dissolution of a firm. (C) A partnership is dissolved when there is a death of a partner. (D) Dissolution of a firm necessarily involves dissolution of partnership. Choose the correct answer from the options given below:

In case of dissolution of a firm, Losses including deficiencies of capital, shall be paid first out of ....

Dissolution of a firm cannot take place in which of the situation:

On dissolution of a firm, partner's loan account is transferred to:

Arrange the following in correct order in which assets of the firm can be used in there settlement. (A) Residue shall be divided between the partners in their profit sharing ratio. (B) In paying the partners proportionately what is due to him/her on account of capital. (C) In paying the partners proportionately what is due to him/her from the firm for advances/loans. (D) In paying the debts of the firm to the third parties. Choose the correct answer from the options given below:

In which of the following the Economic relationship between the partners comes to an end?

Unrecorded liabilities when paid at the time of dissolution of a partnership firm, are shown in:

In case of dissolution Machine costing Rs 20,000, alongwith cash of Rs 5,000 were given to creditors of Rs 30,000 in full settlement of their claim. In this case Realisation A/c will be Debited with ___________.

When the business of the partnership firm becomes illegal, it leads to dissolution of the firm under ___________?

The assets of the firm, including any sum contributed by the partners to make deficiencies of capital, shall be applied first for paying ...........

Which statements are true about the dissolution of a partnership- (A) Dissolution of a partnership is different from dissolution of a firm. (B) A partnership is dissolved when there is a death of a partner. (C) A firm is compulsorily dissolved when a partner decide to retire. (D) Dissolution of partnership can not take place without intervention of the court. Choose the correct answer from the options given below:

On the dissolution of a firm, creditor's are transferred to:

Which of the following indicate the situation of compulsory dissolution.

When realization expenses are paid by the firm on behalf of a partner, such expenses are debited to:

According to Section ........... of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

The dissolution of Partnership may take place due to: A. Retirement of Partner B. Death of Partner C. Insolvency of Partner D. Admission of New Partner E. Completion of Venture, if partnership formed for that purpose Choose the correct answer from the options given below:

Select out of the following that is not considered as one of the modes of reconstitution of a partnership firm.

Identify which of the following will lead to dissolution of partnership but NOT dissolution of the firm

Arrange the following in the context of dissolution of partnership firm. A. Payment of loan from Partners B. Payment of secured outsider's liabilities C. Realisation of assets into cash D. Settlement of partner's capital E. Payment of unsecured outsider's liability Choose the correct answer from the options given below:

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

Select the entry that is to be made when a creditor accepts an asset in full and final settlement of his account.

Realisation A/c is debited with __________ on the dissolution of firm.

Select the way by which provisions appearing in the Balance Sheet of a partnership firm are closed at the time of firm's dissolution.

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 ?

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

Arrange following in a sequence in which amount realised from Assets will be utilised to pay. A. Partner's Loan B. Partner's Capital C. Secured debts of the firm D. Unsecured debts of the firm E. Residue to partners Choose the correct answer from the options given below:

Out of the following when will the need for valuation of goodwill does not arise:

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:

According to Indian Partnership Act, 1932, when the firm is dissolved, cash received on sale of assets are applied in following order : (A) Paying to each partner proportionately what is due to him/her on account of capital (B) In paying the secured debts of the firm to the third parties (C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (D) The residue, if any shall be divided among the partner's in their profit sharing ratio (E) In paying unsecured debt of firm to third parties Choose the correct answer from the options given below :

On Dissolution of partnership firm out of total debtors of Rs. 2,50,000, Rs. 10,000 became bad and the rest realised 70%. In the given case Bank A/c will be debited by :

On dissolution of partnership, goodwill account is transferred to :

Rohit a partner paid the realisation expenses of Rs. 10,000 and he was to get a remuneration of Rs. 12,000 for completing the dissolution process and realisation expenses were borne by Rohit. The amount transferred to his capital A/c will be :