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Dissolution of ...

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  • Question 1
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    Upon dissolution of firms, the surplus left after settlement of debts and liabilities of the firms shall be ____.

  • Question 2
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    Upon dissolution, the firm's assets shall be first applied in paying the debts of the firm to third parties, thereafter it shall be applied in payment of partners' loan,  then it shall be applied in payment of partners' capital and if still surplus remains, it should used for___.

  • Question 3
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    Upon dissolution, the firm's assets shall be first applied in__.

  • Question 4
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    In which of the following situations, the firm will NOT be compulsorily dissolved?

  • Question 5
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    In settling the accounts of a firm after dissolution, losses, including deficiencies of capital, shall be paid -.

  • Question 6
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    Upon dissolution, the firm's assets shall be first applied in paying the debts of the firm to third parties, thereafter it shall be applied in payment of partners' loan, the it shall be applied in___.

  • Question 7
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    When it is not registered, a partnership firm is ___________.

  • Question 8
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    In which of the following cases, the Court may because of the partner, dissolve a firm?

  • Question 9
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    It is uncommon to find for realization account :

  • Question 10
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    Garner Vs Murray requires _________.

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