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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 7 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 7 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 7 Online Test
00:00
Question # 1
In case of dissolution, assets sold for cash are debited to
Question # 2
In the absence of any agreement Reserve on dissolution of a partnership firm is credited to the partners.
Question # 3
On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to.
Question # 4
Generatal reserve at the time of dissolution is transferred to
Question # 5
Un recorded liability when paid on dissolution of the firmis debited to.
Question # 6
As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of.
Question # 7
At the time of dissolution, all the assets of the firm are transfered in the realization account at.
Question # 8
If any partner takes the responsibility to pay the liabilities of the firm at the time of dissolution then it should be credited to.
Question # 9
In case of dissolution if there is any undivided profit are reserve should be credited to.
Question # 10
Reliization account is opened to find out gain or loss at the time of.
Question # 11
When a firm dissolved with the consent of all the partners it is called.
Question # 12
The end or termination of partnership is called.
Question # 13
Realizaton account is a.
Question # 14
Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to.
Question # 15
If all the partners but one is solvent it is.
ICOM Part 2 English Medium Principles of Accounting Chapter 7 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 7 Online Test" MCQ`s Test
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H Hadi 17 - Jul - 2021 00 Min 08 Sec 15/15 -
F Farzeen 08 - Feb - 2023 00 Min 40 Sec 14/15 -
G gullam 17 - Jul - 2021 01 Min 46 Sec 14/15 -
M MusksnBaig 26 - Jun - 2021 02 Min 19 Sec 13/15 -
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P Palwasha 25 - Jun - 2021 02 Min 46 Sec 12/15 -
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M Malaika MA 03 - Aug - 2024 01 Min 45 Sec 11/15 -
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A Ayesha Tariq 11 - Dec - 2021 11 Min 58 Sec 11/15 -
T Tayab 29 - Jul - 2021 02 Min 46 Sec 10/15 -
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S Sameer Raza 24 - Jul - 2021 04 Min 09 Sec 10/15 -
M M Salman 25 - Jul - 2021 08 Min 58 Sec 10/15
ICom Part II Class Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The balance of realization account is transferred to the capital accounts of the partners in. |
A. Capital ratio
B. Equality
C. Interest ratio
D. Profit sharing ratio
|
| 2 | Un recorded liability when paid on dissolution of the firmis debited to. |
A. Realization account
B. Liability account
C. Partners capital account
D. None of these
|
| 3 | According to the decision in Garner Va. Murray rule the loss due to insolvency of a partner is be shared by solvent, partner in the. |
A. Capital ratios
B. Profit sharing ratios
C. Equal ratios
D. None of these
|
| 4 | In the absence of any agreement Reserve on dissolution of a partnership firm is credited to the partners. |
A. In capital ratio
B. In profit sharing ratio
C. Equality
D. None of these
|
| 5 | If any partner takes over any asset at the time of dissolution then it should be debited to. |
A. Partner's capital accounts
B. Realization account
C. Cash account
D. None of these
|
| 6 | Where a partner become unsound mind the dissolution is considered as. |
A. Dissolution by court
B. Dissolution by Notice
C. Dissolution by agreement
D. Compulsory dissolution
|
| 7 | On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to. |
A. Realization account
B. Partners capital account
C. Assets account
D. None of these
|
| 8 | Generatal reserve at the time of dissolution is transferred to |
A. All partners capital accounts
B. Realization account
C. Solvent partners capital account
D. Insolvent patner's capital account
|
| 9 | In case of dissolution, assets sold for cash are debited to |
A. Realization account
B. Cash account
C. Assets account
D. None of these
|
| 10 | When a firm dissolved with the consent of all the partners it is called. |
A. Dissolution by notice
B. Dissolution by agreement
C. Dissolution by court
D. Compulsory dissolution
|
Test Questions
