| 1 |
In case of dissolution if there is any undivided profit are reserve should be credited to. |
- A. Partners capital accounts
- B. Realization accounts
- C. Reserve account
- D. Revaluation accounts
|
| 2 |
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
|
| 3 |
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
|
| 4 |
The end or termination of partnership is called. |
- A. Amalgamation
- B. Dissolution
- C. Retirement
- D. Admission
|
| 5 |
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
|
| 6 |
Realizaton account is a. |
- A. Nominal account
- B. Real account
- C. Personal account
- D. Cash account
|
| 7 |
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
|
| 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 |
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
|
| 10 |
The balance of realization account is transferred to the capital accounts of the partners in. |
- A. Capital ratio
- B. Equality
- C. Interest ratio
- D. Profit sharing ratio
|
