Self Studies

Dissolution of ...

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  • Question 1
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    If creditors given in the balance sheet ₹30,000. Stock costing ₹10,000 taken over by creditors at market price of ₹8,000 at the time of dissolution of partnership firm and balance amount paid in cash after deducting a discount of 10%. How much amount is paid in cash?

  • Question 2
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    Compulsory dissolution takes place when:

  • Question 3
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    When Asset is taken over by a creditor:

  • Question 4
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    Compulsory dissolution will take place when _______

  • Question 5
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    According to Indian Partnership Act 1932 Dissolution of firm means:

  • Question 6
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    Which of the following Reserve or fund is not transferred to the Realisation Account?

  • Question 7
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    Asset taken over by partner will be shown in:

  • Question 8
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    All the assets of the firm are _____ and all outsiders’ liabilities and partners’ loan and partners capitals are ___ at the time of dissolution of firm.

  • Question 9
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    In which circumstances partners’ can dissolve the firm without interference of the court?

  • Question 10
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    Dissolution by court will take place only when ____________

  • Question 11
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    Realisation Account is:

  • Question 12
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    At the time of dissolution a partner cannot take over _______

  • Question 13
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    Unrecorded liability will be shown in:

  • Question 14
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    Money realised from the sale of unrecorded assets is debited to the _________

  • Question 15
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    If Creditors are given ₹20,000 in the balance sheet. But nothing is mentioned under additional information about the payment of the same. How much amount will be paid to the creditors?

  • Question 16
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    In what circumstances a partnership firm can be dissolve?

  • Question 17
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    Choose the current order of priority in settlement of liabilities and capital upon dissolution from items given below:

    (a) Expense incurred on realization of assets such as commission, cartage, brokerage etc.

    (b) All outside creditors

    (c) Balances in Capital Accounts of partners

    (d) Partner’s Loan accounts

    Correct sequence is

  • Question 18
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    Name the Account which is prepared for finding the profit or loss on getting amount from selling of all assets and paying amount of liabilities.

  • Question 19
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    Which of the following account is not prepared at the time of dissolution?

  • Question 20
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    When Realised value of an asset is not given, It should be taken at ______

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