| 1 |
Generatal reserve at the time of dissolution is transferred to |
- A. All partners capital accounts
- B. Realization account
- C. Solvent partners capital account
- D. Insolvent patner's capital account
|
| 2 |
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
|
| 3 |
According to the decision in Garner Va. Murray rule the loss due to insolvency of a partner is be shared by solvent, partner in the. |
- A. Capital ratios
- B. Profit sharing ratios
- C. Equal ratios
- D. None of these
|
| 4 |
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
|
| 5 |
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
|
| 6 |
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
|
| 7 |
If any partner takes the responsibility to pay the liabilities of the firm at the time of dissolution then it should be credited to. |
- A. Partner's capital account
- B. Realization account
- C. Liabilities accounts
- D. Cash accounts
|
| 8 |
In case of dissolution, assets sold for cash are debited to |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 9 |
Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to. |
- A. Realization account
- B. Revalution account
- C. Debtors account
- D. None of these
|
| 10 |
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
|
