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 - 5
Question 1:Â
On dissolution of the firm, Partners’ Capital Accounts are closed through :
(a) Realisation Account
(b) Drawings Account .
(c) Bank Account
(d) Loan Account
Correct Answer – (C)
Question 2:Â
Realisation expenses are recorded in which side of Realisation A/c:
(a) Liabilities
(b) Assets
(c) Credit
(d) Debit
Correct Answer – (C)
Question 3:Â
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
Correct Answer – (D)
Question 4:Â
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
Correct Answer – (A)
Question 5:Â
On dissolution, when a partner takes over an asset _____________ is debited :
(a) Realisation Account
(b) Partner’s Capital Account
(c) Cash Account
(d) Asset Account
Correct Answer – (B)
MCQ Questions Class 12 Dissolution of a Partnership Firm With Answers
Question 6:Â
Realisation Account is a :
(a) Personal A/c
(b) Nominal A/c
(c) Read A/c
(d) None of these
Correct Answer – (B)
Question 7:Â
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
Correct Answer – (A)
Question 8:Â
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
Correct Answer – (A)
Question 9:Â
After transferring liabilities like creditors and bills payable in the Realisation Account in the absence of any informations regarding their payment, such liabilities are treated as :
(a) Never paid
(b) Fully paid
(c) Partly paid
(d) None of these
Correct Answer – (B)
Question 10:Â
On dissolution, Goodwill Account is transferred to :
(a) In the Capital Accounts of Partners
(b) On the Credit side of Cash Account
(c) On the Debit side of Realisation Account
(d) On the Credit side of Realisation Account
