CBSE Class 12 Accountancy Dissolution of a Partnership Firm Quiz 1

1. In the event of dissolution of partnership firm, the provision for doubtful debts is transferred to :

A Realisation Account B Partners’ Capital Accounts C Sundry Debtors Account D None of the above

2. On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:

A profit & Loss Account B Realisation Account C Partner’s Capital Account D Cash Account

3. At the dime of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :

A Realisation Account B Creditors’ Account C Partners’ Capital Accounts D Profit & Loss Account

4. On dissolution, goodwill account is transferred to :

A In the Capital Accounts of Partners B In the Credit of Cash Accounts C In the Debit of Realisation Account D In the Credit of Realisation Account

5. At the time of dissolution of partnership firm, fictitions assets are transferred to :

A Capital Accounts of Partners B Realisation Account C Cash Account D Partners’ Loan Account

6. On dissolution of a firm, a partner paid 1,500 Rs. for firm’s realisation expenses. Which account will be debited ?

A Cash Account B Realisation Account C Capital Account of the Partner D Profit & Loss A/c

7. On taking responsibility of payment of realisation expenses by a partner, the account credited will be :

A Realisastion Account B Cash Account C Capital Account of the Partner D None of the above

8. When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :

A Realisation Account B Partners’ Capital Account C Partner’s Loan Account D None of these

9. Which of the following is transferred to Realisation Account ?

A Balance of Profit Account B Balance of Profit & Loss Account C Amount realised on sale of assets D Reserves

10. On disolution of firm, loss calculated in realisation account is debited/credited to which account ?

A Cash Account B Partners’ Capital Accounts C Realisation Account D None of these