CBSE Class 12 Dissolution of a Partnership Firm Multiple Choice Questions with Answers. MCQ Questions Class 12 Dissolution of a Partnership Firm with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Dissolution of a Partnership Firm with Answers to know their preparation level.
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MCQ Questions Class 12 Dissolution of a Partnership Firm with Answers - Set - 4
Question 1:Â
The accumulated profits and reserves are transferred to:
(a) Realisation Accounts
(b) Partners’ Capital Accounts
(c) Bank Account
(d) None of these
Correct Answer – (B)
Question 2:Â
On dissolution of a firm, Bank overdraft is transferred to:
(a) Cash Account
(b) Bank Account
(c) Realisation Account
(d) Partners’ Capital Account
Correct Answer – (C)
Question 3:Â
Cash balance shown in the Balance Sheet is shown on dissolution of firm in :
(a) Realisation Account
(b) Cash Account
(c) Capital Account
(d) None of the Account
Correct Answer – (B)
Question 4:Â
Which of the following is not transferred to Realisatsion Account ?
(a) Balance of Cash Account
(b) Balance of Reserves
(c) Balance of Profit & Loss Account
(d) All of the above
Correct Answer – (D)
Question 5:Â
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
Correct Answer – (C)
MCQ Questions Class 12 Dissolution of a Partnership Firm With Answers
Question 6:Â
On dissolution of a firm, Partner’s Loan Account is transferred to:
(a) Realisation Account
(b) Partner’s Capital Account
(c) Partner’s Current Account
(d) None of these
Correct Answer – (D)
Question 7:Â
There was an Unrecorded asset of ₹ 12,000 which was taken over by a partner at ₹ 10,500. Partner’s Capital Account will be debited by ________________.
(a) ₹ 12,000
(b) ₹ 10,500
(c) ₹ 1,500
(d) ₹ 32,500
Correct Answer – (B)
Question 8:Â
On taking responsibility of payment of a liability of ₹ 20,000 by a partner, the account credited will be :
(a) Realisation Account
(b) Cash Account
(c) Capital Account of the Partner
(d) Liability Account
Correct Answer – (C)
Question 9:Â
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
Correct Answer – (B)
Question 10:Â
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
