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 MCQs on Dissolution of Partnership Firm    MCQs on Dissolution of Partnership firm (Video)  👈👈 41. The process of disposing off the assets and paying off the liabilities is called: a.Realization       b.Disinvestment       c.reconciliation      d.None of these   42. If one partner become insolvent, in what ratio solvent partners bear the deficiency? a.New ratio is decided b.In the ratio of their capital as it stood just before the liquidation c.Solvent partners do not bear deficiency d.All the above   43. What will be passed, for creditor's liabilities at the time of dissolution,   when all partners are insolvent? a.Liabilities a/c debited, Cash a/c credited, Deficiency a/c credited b.Liabilities a/c credited, Cash a/c credited, Deficiency a/c credited c.Liabilities a/c debited, Cash a/c debited, Deficiency a/c credited d. None of the above ...

MCQS On Dissolution of partnership  https://youtu.be/PcJQjGAQfo0  21. On firm's dissolution, when a partner voluntarily gives his personal assets to firms creditor as payment, the account credited will be: A. Realisation account B. Partners capital account C. Cash account D. None of the account   22. On dissolution of a firm, its Balance sheet revealed total creditors 50,000; Total capital 48,000; Cash balance 3,000. Its assets were realised at 12% less. Loss on realisation will be: A. 6,000 B. 11,760 C. 11,400 D. 3,600   23. At the time of dissolution of firm, "loan of partners" (loans given by partners to the firm) is paid out of the amount realised on sale of assets A. After making the payment of loans given by third party B. After making the payments of balance of capital accounts of partners C. After making the payments of above (a) and (b) D. Before the payment of loans given by third party   24. On dissolution of a fi...

  MCQs on Dissolution of Partnership Firm MCQs on Dissolution of Partnership Firm (Video) 1. At paid time of dissolution _________ is voluntary a. Partnership                                 b. Economic relationship c. Court intervention                              d. All the above   2. According to _________ of Indian partnership act 1932 , dissolution of the firm means dissolution of partnership among all the partners in firm a. Section 39           b. Section 41          c. Section 49        d. Section 48   3. Settlement of account at the time of dissolution done in ...

   MCQ on Hire Purchase System MCQ on Branch Accounts MCQs on Fundamental of Partnership    MCQ on Fundamental of Partnership in English Pdf Part-4 From Question No. 81 to 100 81. X and Y are partners in the ratio of 3:2. Their capitals are 200,000 and 1,00,000 respectively Interest on capitals is allowed @ 8% pa. Firm earned a profit of 15,000 for the year ended 31st March 2019 As per partnership agreement interest on capital is treated a charge on profits Interest on Capital will be (A) X 16,000, Y 8,000 (B) X9000; 26,000 ( C) X10,000; Y6000 (D) No interest   82. X and Y are partners in the ratio of 3-2 Their capitais ore 22,00,000 and 1,00,000 respectively. Interest on capitals is allowed 8% pa. Fem incurred a loss of 60.000 for the year ended 3st March 2019 Interest on Capital will be (A) X 16.000; 8,000 (B) A8.000; Y 4,000 (C)x14400, Y 9,600 (D) No Interest will be allowed   83. Interest on Partner's drawings will be debited to (A) Profit and Loss Acco...

   MCQ on Hire Purchase System MCQ on Branch Accounts MCQs on Fundamental of Partnership    MCQ on Fundamental of Partnership in English Pdf Part-3 From Question No. 61 to 80 61. Which of the following statements is not true about the partnership form of business? (a) A partnership is a business run by two or more persons (b) A partnership business is easy to set up (c) Each partner is liable under the law for the actions of other partners (d) In the absence of agreement, partners will be paid salaries   62. Which of the following statements is not true about the partnership form of business? (a) A partnership is a business run by two or more persons (b) A partnership business is easy to set up (c) Each partner is liable under the law for the actions of other partners (d) In the absence of agreement, partners will be paid salaries   63. The partnership form of business organization? (a) Is a separate legal entity (b) is a common fo...

  MCQ on Hire Purchase System MCQ on Branch Accounts MCQs on Fundamental of Partnership    MCQ on Fundamental of Partnership in English Pdf Part-3 From Question No. 41 to 60 41. A partnership cannot be constituted by (a) two individuals (b) two Hindu joint families (c) both (a) and (b) (d) neither (a) or (b)   42. All partners consent is required  to admit a new partner.. a. True  b. False. c. Can't say   43. Partners Loan Account is:- a) Personal Account  b) Real Account c) Nominal Account  d) Expense Account   44. X contributes Rs. 2,00,000 for his 1/4th share then the total capital of the firm will be: (a) Rs. 6,50,000 (b) Rs. 5,62,500. (c) Rs. 8,00,000.  (d) Rs. 10,00,000.   45. Which of the following statement is true? (a) A minor cannot be admitted as a partner. (b) A minor can be admitted as a partner, only for the benefits of the partnership. (c) A minor cannot be a sleeping partner. (d) A minor can be admitted as a par...

MCQ on Hire Purchase System MCQ on Branch Accounts MCQs on Fundamental of Partnership   MCQ on Fundamental of Partnership in English Pdf Part-2 From Question No. 21 To 40  21. Interest on capital will be paid to the partners if provided for in the partnership deed but only out of a. Reserve b. Accumulated Profit c. Goodwill  d. Profit 22. Is a partnership firm examined as an individual a legal entity? a. Partly      b. Yes      c. No 23. in case of partnership the act of any partner is a. Binding on all partners b. binding on that partner only c. Binding on all partners except that particular partner d. None of the above 24. Current accounts are opened if capital is (a) fixed.                                  (b) fluctuating (c) not contributed....