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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
The end or termination of partnership is called.
Question # 2
At the time of dissolution, all the assets of the firm are transfered in the realization account at.
Question # 3
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 # 4
Reliization account is opened to find out gain or loss at the time of.
Question # 5
In case of dissolution, assets sold for cash are debited to
Question # 6
The balance of realization account is transferred to the capital accounts of the partners in.
Question # 7
In case of Garner Vs. Murray rule, the decision was given is.
Question # 8
If any partner takes over any asset at the time of dissolution then it should be debited to.
Question # 9
The Decision in Garner Va. Murray was given in.
Question # 10
In case of dissolution if there is any undivided profit are reserve should be credited to.
Question # 11
Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to.
Question # 12
The partnership may come to an end due to the
Question # 13
As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of.
Question # 14
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.
Question # 15
On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to.
ICOM Part 2 English Medium Principles of Accounting Chapter 7 MCQ's Test
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | The Decision in Garner Va. Murray was given in. |
A. 1905
B. 1904
C. 1804
D. 1933
|
| 3 | The end or termination of partnership is called. |
A. Amalgamation
B. Dissolution
C. Retirement
D. Admission
|
| 4 | 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
|
| 5 | 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
|
| 6 | If any partner takes the responsibility to pay the liabilities of the firm at the time of dissolution then it should be credited to. |
A. Partner's capital account
B. Realization account
C. Liabilities accounts
D. Cash accounts
|
| 7 | Reliization account is opened to find out gain or loss at the time of. |
A. Admisson of a new partner
B. Retirement of the partner
C. Death of the partners
D. None of these
|
| 8 | In case of dissolution if there is any undivided profit are reserve should be credited to. |
A. Partners capital accounts
B. Realization accounts
C. Reserve account
D. Revaluation accounts
|
| 9 | 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
|
| 10 | As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of. |
A. Realization loss
B. Profit ratio
C. Capital ratio
D. None of these
|
Test Questions
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