Dissolution of a Partnership Firm Class 12 MCQs Questions with Answers

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

2. 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…….

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

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

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

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

7. The accumulated profits and reserves are transferred to

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

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

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

11. On dissolution, Goodwill Account is transferred to :

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

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

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

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

16. On dissolution, goodwill account is transferred to :

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

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

19. Dissolution of a Partnership Firm

20. 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 :