| 1 |
Realizaton account is a. |
- A. Nominal account
- B. Real account
- C. Personal account
- D. Cash account
|
| 2 |
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
|
| 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. |
- A. Partner's capital account
- B. Realization account
- C. Liabilities accounts
- D. Cash accounts
|
| 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 partnership may come to an end due to the |
- A. Death of a partner
- B. Involvency of a partner
- C. Both of the above
- D. None of these
|
| 6 |
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
|
| 7 |
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
|
| 8 |
In case of Garner Vs. Murray rule, the decision was given is. |
- A. Mr. Justice james
- B. Mr Garner
- C. Mr. Justice joyee
- D. Mr. Murray
|
| 9 |
The balance of revalution account is transferred to the capital accounts of the partners in. |
- A. Profit sharing ratios
- B. Capital ratios
- C. Equality
- D. None of these
|
| 10 |
The end or termination of partnership is called. |
- A. Amalgamation
- B. Dissolution
- C. Retirement
- D. Admission
|
