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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

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

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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?