Dissolution of a Partnership Firm Class 12 MCQs Questions with Answers

1. On dissolution, when a partner takes over an asset……….is debited :

2. On taking responsibility of payment of a liability of ₹ 20,000 by a partner, the account credited will be :

3. On dissolution of a firm, Bank overdraft is transferred to:

4. On taking responsibility of payment of realisation expenses by a partner, the account credited will be :

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

6. Dissolution of a Partnership Firm

7. On dissolution of a firm, Partner’s Loan Account is transferred to:

8. After transferring liabilities like creditors and bills payable in the Realisation Account in the absence of any informations regarding their payment, such liabilities are treated as :

9. Cash balance shown in the Balance Sheet is shown on dissolution of firm in

10. At the dime of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :

11. On disolution of firm, loss calculated in realisation account is debited/credited to which account ?

12. At the time of dissolution of partnership firm, fictitions assets are transferred to :

13. On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:

14. The accumulated profits and reserves are transferred to

15. Which of the following is not transferred to Realisatsion Account ?

16. On dissolution of a firm, a partner paid 1,500 Rs. for firm’s realisation expenses. Which account will be debited ?

17. On dissolution, Goodwill Account is transferred to :

18. Which of the following is transferred to Realization Account ?

19. On dissolution, goodwill account is transferred to :

20. There was an Unrecorded asset of ₹ 12,000 which was taken over by a partner at ₹ 10,500. Partner’s Capital Account will be debited by…….