| 1 |
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
|
| 2 |
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
|
| 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 |
The end or termination of partnership is called. |
- A. Amalgamation
- B. Dissolution
- C. Retirement
- D. Admission
|
| 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 |
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
|
| 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 |
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
|
| 9 |
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
|
| 10 |
The Decision in Garner Va. Murray was given in. |
- A. 1905
- B. 1904
- C. 1804
- D. 1933
|
