Dissolution of firm
Authored by Soja.CP Taliparamba
Other
12th Grade
Used 2+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unrecorded liability paid at the time of dissolution of the firm is debited to....................... Account.
Liability Account
Realisation Account
Partner's Capital Account
None of these
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unrecorded Asset taken over by a Partner at the time of dissolution of the firm is .................... to his Capital Account.
Debited
Credited
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goodwill at the time of Dissolution of Firm is Closed by transferring it to Partners' Capital Accounts.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Against his loan of Rs.2,00,000, the partner takes an asset valued at Rs.1,60,000 in full settlement of his account, ..................amount will be transferred to Realisation Account.
Rs.2,00,000
Rs.40,000
Rs.1,60,000
None of these
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A debtor of Rs.5,000, already transferred to Realisation Account agreed to pay the Realisation Expenses of Rs.4,500 in full settlement of his claim. Choose the correct option:
Realisation Account will only be debited by Rs.4,500.
No Entry will be passsed.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The firm had a Debit balance of Profit and Loss Account of Rs.15,000 at the time of Dissolution of Firm. Partner's Capital Accounts will be ................... by Rs.15,000.
Debited
Credited
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Nisha paid Realiastion Expenses of Rs.10,000 out of her private funds, who was to get a remuneration of Rs.8,000 for completing dissolution process and was responsible to bear all the realisation expenses. Choose the correct option:
Nisha's Capital Account will be Debited by Rs.18,000.
Nisha's Capital Account will be Credited by Rs.18,000.
Nisha's Capital Account will be Debited by Rs.8,000.
Nisha's Capital Account will be Credited by Rs.8,000.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
16 questions
Quizzizz
Quiz
•
KG - Professional Dev...
15 questions
Cwis Diwrnod y Llyfr: Llyfrau ar draws byd
Quiz
•
4th - 12th Grade
15 questions
UTS PKK Kelas XII
Quiz
•
12th Grade
11 questions
Scouts BSA Scout Rank Req 2a-2d
Quiz
•
5th - 12th Grade
10 questions
Preguntas de fall guys
Quiz
•
1st - 12th Grade
20 questions
Using Credit
Quiz
•
9th - 12th Grade
15 questions
Recap of topic 1
Quiz
•
12th Grade
10 questions
Collective Bargaining
Quiz
•
KG - University
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
29 questions
Alg. 1 Section 5.1 Coordinate Plane
Quiz
•
9th Grade
22 questions
fractions
Quiz
•
3rd Grade
11 questions
FOREST Effective communication
Lesson
•
KG
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
Discover more resources for Other
20 questions
-AR -ER -IR present tense
Quiz
•
10th - 12th Grade
22 questions
El Imperfecto
Quiz
•
9th - 12th Grade
20 questions
SSS/SAS
Quiz
•
9th - 12th Grade
20 questions
verbos reflexivos en español
Quiz
•
9th - 12th Grade
14 questions
Making Inferences From Samples
Quiz
•
7th - 12th Grade
23 questions
CCG - CH8 Polygon angles and area Review
Quiz
•
9th - 12th Grade
8 questions
Momentum and Collisions
Lesson
•
9th - 12th Grade
28 questions
Ser vs estar
Quiz
•
9th - 12th Grade