MCQs on Dissolution of Partnership Firm (Part-1) From Q-1 to Q - 20, MCQ on Dissolution of Partnership Firm
MCQs on Dissolution of Partnership Firm
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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 accordance of
a. Section 49
b. Section 48
c. Section 41
d. Section 39
4. Dissolution of firm done on happening of which event
a. Death of partner
b. Completion of venture
c. Insolvency of partners
d. All of these
5. Pick the odd one
a. Revaluation a/c
b. Realisation a/c
c. Bank a/c
d. Partners loan a/c
6. Unrecorded Liability when paid are debited to
a. Realisation a/c
b. Partners Capital a/c
c. None of these
7. At the time of dissolution of the firm the assets and liabilities appearing in the balance sheet are transferred to
a. Revaluation a/c
b. Partners Capital a/c
c. Realisation a/c
8. Unrecorded assets when realises is credited to
a. Realisation a/c
b. Partners Capital a/c
c. None of these
9. Is it compulsory to pay creditors in case of loss
a. No
b. Yes
c. May be or may not be paid
10. Goodwill appearing in books of a/c is transferred to
a. Partners Capital a/c
b. Realisation a/c
c. Balance sheet
d. Bank a/c
11. New ratio is not to be calculated on:
A. Admission of a partner
B. retirement of a partner
C. death of a partner
D. dissolution of a partnership
12. At the time of dissolution of partnership an unrecorded asset taken by X a partner is debited to:
A. X capital account
B. realisation account
C. cash account
D. none of these
13. On firm's dissolution which of the following account is prepared at the last?
A. Realisation account
B. partners capital account
C. cash account
D. loan account
14. On dissolution of a firm fictitious assets are transferred to:
A. credit side of partners capital account
B. debit side of realisation account
C. debit side of partners capital account
D. credit side of realisation account
15. On dissolution of a firm in which ratio profit and loss on realisation is distributed among the partners:
A. capital ratio
B.profit sharing ratio
C. equally
D. in the ratio of amount due to each partner.
16. On dissolution of the firm amount received from sale of unrecorded asset is credited to :
A. partner’s capital account
B. profit and loss account
C. cash account
D. realisation account
17. Realisation account is a :
A. personal account
B. real account
C. nominal account
D. none of these
18. At the time of firm's dissolution credit balance of profit and loss account is credited to :
A. realisation account
B. partners capital account
C. cash account
D. profit and loss account.
19. On dissolution of a firm Goodwill appearing in the balance sheet is transferred to:
A. capital account of partners
B. cash account
C. debit side of realisation account
D. credit side of realisation account.
20.On dissolution the balance of partners capital account appearing on the credit side of the balance sheet is transferred to :
A. debit side of realisation account
B. credit side of realisation account
C.debit side of partners capital account
D. credit side of partners capital account.
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