Dissolution of a Partnership Firm Class 12 MCQs Questions with Answers

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

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

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

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

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

6. On dissolution, goodwill account is transferred to :

7. 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 :

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

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

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

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

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

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

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

15. 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…….

16. The accumulated profits and reserves are transferred to

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

18. Dissolution of a Partnership Firm

19. On dissolution, Goodwill Account is transferred to :

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