MCQs on Dissolution of Partnership Firm (Part-4) From Q-81 to Q - 100, Mcq on dissolution of partnership firm
MCQs on Dissolution of Partnership Firm
81. 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
82. .When realisation expenses are to be borne by a partner, actual realisation expense is credited to:
a. Partners capital a/c b. Cash a/c c. Realisation a/c d. None of the above
83. Registration of Firm does not create Partnership, but is only the evidence of existence of Partnership.
a. True b. Partly True c. False d. Partly False
84.a partner of an unregistered firm can sue for _______ of firm
a. Goodwill b. Share in property c. Dissolution d. Nothing
85. Firm will not be compulsorily dissolved, when
a. The partnership has various adventures & one such adventure becomes illegal
b. The decision is taken by all the partners to dissolve the Firm
c. The business of the Firm becomes unlawful
d. All partners or any one of the partners is declared insolvent.
86. A, B and Care in Partnership. A and Care adjudicated insolvent, while B wants to continue the Firm Which of the following is true?
a. Firm is also declared insolvent
b. B has to repay the debts of the Firm
c. Firm is automatically dissolved and hence B cannot continue
d. The Court has to give order for dissolution
87. The relation between partners arise
a. from status b. from an agreement
c. from legal provisions d. from mutual understanding
88. In which of the following cases compulsory dissolution of a partnership is not possible
a. By business becoming illegal
b. By notice of dissolution
c. By transferring the business place of firm from one place to another place
d. by mutual agreement
89. Partnership agreements may be
a. implied b. expressed c. (1) and (2) d. (1) or (2)
90.X, Y and Z were Partners in a Firm. During the course of business, the Firm ordered a Textile Machinery with ABC Ltd. After the order was placed, but before delivery of machinery. X expired. Thereafter the remaining Partners became insolvent and the Firm was unable to pay for the machine.
a. X's estate will be liable for the price of the Machinery
b. X's estate will not be liable for the price of the Machinery
c. ABC Lad will be liable for the price of the Machinery
d. ABC Lid will not be liable for the price of the Machinery.
91.On dissolution, goodwill account is transferred to
a) Revaluation Account b) Realisation Account
c) Partners capital account d) Profit and loss account
92. If creditor takes furniture in his settlement then which account is going to affects
a. Realisation a/c b. No Effect c. Furniture a/c d. Creditor a/c
93. At the time of dissolution , Employees provident fund is transfar to
a. Employees a/c b. Bank a/c c. Realisation a/c d. Partner Capital A/c
94. Firm said 1000 remuneration to partner Chetan but actually expense were only 500 , what amount will paid to him
a. 1000 b. 500 c. May be a or b d. No amount
95. Afters dissolution of firm book of firm continue till the mutual understanding of partners
a. True b. False c. May be continue
96. Realisation expense paid by Raj but born by Naj , which account will get affected
a. Realisation a/c b. Only Raj Capital a/c
c. Only Naj Capital a/c d. Both Raj and Naj Capital a/c
97. At the time of dissolution total assets are worth Rs3,00,000 and external liabilities are worth Rs1,20,000. If assets realised 120% and realisation expenses paid were Rs4,000, then profit/loss on realisation will be:
a. Profit Rs60,000 b. Loss Rs60,000 c. Loss Rs56,000 d. Profit Rs56,000
98. Dissolution of a partnership firm cannot take place without the intervention of the court.
a.True b. False. c. May be
99.If opening capitals of partners are A ₹3,00,000, B ₹2,00,000 and C ₹1,00,000 and their drawings during the year are A ₹50,000, B ₹40,000 and C ₹30,000 and creditors are ₹60,000, what will be the amount of assets of the firm?
(A) ₹5,40,000 (B) ₹4,20,000 (C) ₹4,80,000 (D) ₹6,60,000
100. Dissolution of firm is last step where partners are in boundation of sharing their profit and loss
a. True b. False
Comments
Post a Comment