| 1 |
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
|
| 2 |
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
|
| 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 |
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
|
| 5 |
Realizaton account is a. |
- A. Nominal account
- B. Real account
- C. Personal account
- D. Cash account
|
| 6 |
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
|
| 7 |
The Decision in Garner Va. Murray was given in. |
- A. 1905
- B. 1904
- C. 1804
- D. 1933
|
| 8 |
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
|
| 9 |
In case of dissolution, assets sold for cash are debited to |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 10 |
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
|
