| 1 |
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
|
| 2 |
In case of dissolution, assets sold for cash are debited to |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 3 |
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
|
| 4 |
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
|
| 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 |
The partnership may come to an end due to the |
- A. Death of a partner
- B. Involvency of a partner
- C. Both of the above
- D. None of these
|
| 7 |
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
|
| 8 |
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
|
| 9 |
When a firm dissolved with the consent of all the partners it is called. |
- A. Dissolution by notice
- B. Dissolution by agreement
- C. Dissolution by court
- D. Compulsory dissolution
|
| 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
|
