1.
Realization account is a _ account
1 out of 10
2.
Rohan, Mohan and Sohan were partners sharing profits equally. At the time of dissolution of the partnership firm, Rohan’s loan to the firm will be :
2 out of 10
3.
Anu, Bina and Charan are partners. The firm had given a loan of ₹20,000 to Bina. On the event of dissolution, the loan will be settled by :
3 out of 10
4.
At the time of dissolution of a partnership firm, a creditor worth ₹ 90,500 took away stock worth ₹ 77,775 in full settlement. Which of the following will be the accounting entry for the same?
4 out of 10
5.
At the time of dissolution of a firm, Creditors are ₹ 70,000; Firm's Capital is ₹ 1,20,000; Cash Balance is ₹ 10,000. Other assets realised ₹ 1,50,000. Gain/Loss in the realisation account will be:
5 out of 10
6.
At the time of dissolution of partnership firm, journal entry for the settlement of loan advanced by the firm to a partner would be:
6 out of 10
7.
On the basis of the following data, how much final payment will be made to a partner on firm’s dissolution? Credit balance of capital account of the partner was ₹50,000. Share of loss on realization amounted to ₹10,000. Firm’s liability taken over by him was for ₹8,000.
7 out of 10
8.
Which of the following does not result into reconstitution of a firm ?
8 out of 10
9.
At the time of dissolution of a firm, _ account is prepared.
9 out of 10
10.
At the time of dissolution, partner’s loan account is closed by
10 out of 10
