| 1 |
If any partner takes over any asset at the time of dissolution then it should be debited to. |
- A. Partner's capital accounts
- B. Realization account
- C. Cash account
- D. None of these
|
| 2 |
On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to. |
- A. Realization account
- B. Partners capital account
- C. Assets account
- D. None of these
|
| 3 |
As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of. |
- A. Realization loss
- B. Profit ratio
- C. Capital ratio
- D. None of these
|
| 4 |
In case of dissolution, assets sold for cash are debited to |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 5 |
Where a partner become unsound mind the dissolution is considered as. |
- A. Dissolution by court
- B. Dissolution by Notice
- C. Dissolution by agreement
- D. Compulsory dissolution
|
| 6 |
Realizaton account is a. |
- A. Nominal account
- B. Real account
- C. Personal account
- D. Cash account
|
| 7 |
Reliization account is opened to find out gain or loss at the time of. |
- A. Admisson of a new partner
- B. Retirement of the partner
- C. Death of the partners
- D. None of these
|
| 8 |
If all the partners but one is solvent it is. |
- A. Compulsory dissolution of firm
- B. Dissolution by agreement
- C. Or may not cause dissolution
- D. None of these
|
| 9 |
Un recorded liability when paid on dissolution of the firmis debited to. |
- A. Realization account
- B. Liability account
- C. Partners capital account
- D. None of these
|
| 10 |
The balance of revalution account is transferred to the capital accounts of the partners in. |
- A. Profit sharing ratios
- B. Capital ratios
- C. Equality
- D. None of these
|
