| 1 |
At the time of dissolution, all the assets of the firm are transfered in the realization account at. |
- A. Market value
- B. Book value
- C. Cost value
- D. Bale value
|
| 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 |
In the absence of any agreement Reserve on dissolution of a partnership firm is credited to the partners. |
- A. In capital ratio
- B. In profit sharing ratio
- C. Equality
- D. None of these
|
| 4 |
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
|
| 5 |
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
|
| 6 |
In case of dissolution, assets sold for cash are debited to |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 7 |
The end or termination of partnership is called. |
- A. Amalgamation
- B. Dissolution
- C. Retirement
- D. Admission
|
| 8 |
Realizaton account is a. |
- A. Nominal account
- B. Real account
- C. Personal account
- D. Cash account
|
| 9 |
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
|
| 10 |
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
|
