CBSE Class 12 Accountancy Dissolution of a Partnership Firm Quiz 3

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CBSE › Class 12 › Accountancy › Dissolution of a Partnership Firm

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1. Unrecorded liabilities when paid are shown in :

A Debit side of Realisation Account B Debit side of Bank Account C Credit side of Realisation Account D Credit side of Bank Account

2. Payment of credit balance of Partners’ Capital Accounts at the time of dissolution of a firm is made to:

A Partners B Firm C Wife D None of these

3. On dissolution of a firm Partner’s Loan A/c is transferred to:

A Realisation A/c B Partners’ Capital A/cs C Suspense A/c D None of these

4. At the time of dissolution of firm book value of assets is recorded in which side of the Realisation Account ?

A Debit Side B Credit Side C All of the above D Liabilities Side

5. Realisation expenses are recorded in which side of Realisation A/c:

A Liabilities B Assets C Credit D Debit

6. Realisation Account is a :

A Personal A/c B Nominal A/c C Read A/c D None of these

7. On dissolution of the firm, Partners’ Capital Accounts are closed through :

A Realisation Account B Drawings Account . C Bank Account D Loan Account

8. Unrecorded assets when taken over by a partner are shown in:

A Debit side of Realisation A/c B Debit side of Bank A/c C Credit side of Realisation A/c D Credit side of Bank A/c

9. Expenses on dissolution of firm is called :

A Realisation Expenses B Legal Expenses C Loss Expenses D None of these

10. Sundry creditors amounted to ₹ 8,000. They were paid at a discount of 5 %. Realisation A/c will be debited by :

A ₹ 8,000 B ₹ 7,600 C ₹ 400 D ₹ 8,400

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