{"id":18623,"date":"2022-05-28T13:30:02","date_gmt":"2022-05-28T08:00:02","guid":{"rendered":"https:\/\/mcq-questions.com\/?p=18623"},"modified":"2022-05-18T16:12:25","modified_gmt":"2022-05-18T10:42:25","slug":"mcq-questions-for-class-12-accountancy-chapter-5","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-5\/","title":{"rendered":"MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers"},"content":{"rendered":"

Students who are searching for NCERT MCQ Questions for Chapter 5 Dissolution of a Partnership Firm with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accountancy with Answers<\/a>. You can also verify your answers from our provided Dissolution of a Partnership Firm Class 12 MCQs Questions with Answers. So, ace up your preparation with MCQ on Dissolution of a Partnership Firm Class 12 Objective Questions.<\/p>\n

Dissolution of a Partnership Firm Class 12 MCQs Questions with Answers<\/h2>\n

State which of the following is correct:<\/span><\/p>\n

Question 1.
\nRevaluation account and reaLisation account are _______ accounts.
\n(a) same
\n(b) opposite
\n(c) different
\n(d) real<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) different<\/p>\n<\/details>\n

\n

Question 2.
\nRealisation account is a ________ account
\n(a) real
\n(b) personal
\n(c) nominal
\n(d) cash.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) nominal<\/p>\n<\/details>\n

\n

Question 3.
\nAt the time of dissolution of a partnership firm ___________ account is prepared.
\n(a) revaluation
\n(b) realisation
\n(c) profit & loss
\n(d) trading<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) realisation<\/p>\n<\/details>\n

\n

Question 4.
\nAt the time of dissolution of a partnership firm, all assets (except fictitious) are transferred to _______ account.
\n(a) realisation
\n(b) revaluation
\n(c) capital
\n(d) loan.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) realisation<\/p>\n<\/details>\n

\n

Question 5.
\nAt the time of dissolution, partner\u2019s loan account is closed by _______.
\n(a) transferring in realisation
\n(b) payment
\n(c) abolished
\n(d) none of these.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) payment<\/p>\n<\/details>\n

\n

Question 6.
\nAt the time of dissolution of partnership firm, balance of cash and bank will be transferred to _____ account.
\n(a) realisation
\n(b) revaluation
\n(c) bank
\n(d) capital<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) bank<\/p>\n<\/details>\n

\n

Question 7.
\nAt the time of dissolution of partnership firm _______ account is prepared.
\n(a) realisation
\n(b) partners capital
\n(c) bank
\n(d) All of these<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) All of these<\/p>\n<\/details>\n

\n

Question 8.
\nAfter the dissolution of firm, business of the firm will automatically ______.
\n(a) continued
\n(b) closed
\n(c) extended
\n(d) None of these<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) closed<\/p>\n<\/details>\n

\n

Question 9.
\nRealisation account can be prepared _______ in the life of firm.
\n(a) many
\n(b) once
\n(c) two
\n(d) three<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) once<\/p>\n<\/details>\n

\n

Question 10.
\nRevaluation account can be prepared ______ time(s) in the firm.
\n(a) many
\n(b) one
\n(c) two
\n(d) three<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) many<\/p>\n<\/details>\n

\n

Question 11.
\nUnrecorded assets taken over any creditor will ______.
\n(a) be debited to realisation account
\n(b) be debited and credited both to realisation account
\n(c) be credited to realisation account
\n(d) not be recorded anywhere.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) not be recorded anywhere.<\/p>\n<\/details>\n

\n

Question 12.
\nUnrecorded liability will be ________ to realisation account when paid.
\n(a) debited
\n(b) debited and credited both
\n(c) credited
\n(d) paid<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) debited<\/p>\n<\/details>\n

\n

Question 13.
\nGoodwill already appearing in the balance sheet of the firm will be transferred on the ________ side of account.
\n(a) debit, capital
\n(b) debit, realisation
\n(c) debit, bank
\n(d) credit, bank<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) debit, realisation<\/p>\n<\/details>\n

\n

Question 14.
\nWhen a partner agrees to receive the sum due to him in lump sum, ______ account is debited.
\n(a) realisation
\n(b) concerned partners\u2019 capital
\n(c) bank
\n(d) none of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) concerned partners\u2019 capital<\/p>\n<\/details>\n

\n

Question 15.
\nAt the time of dissolution of a firm, all assets and liabilities will be transferred to realisation account at ______ values.
\n(a) book
\n(b) market
\n(c) cost
\n(d) realised.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) book<\/p>\n<\/details>\n

\n

Question 16.
\nAt the time of dissolution of firm, goodwill account is closed by transferring it to ________ account.
\n(a) realisation
\n(b) partners loan
\n(c) partners capital
\n(d) bank<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) realisation<\/p>\n<\/details>\n

\n

Question 17.
\nOn dissolution, balance of partner\u2019s capital account will be transferred to _____ account.
\n(a) realisation
\n(b) revaluation
\n(c) bank
\n(d) loan.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) bank<\/p>\n<\/details>\n

\n

Question 18.
\nAfter settlement of dissolving firm, bank account may have _____ balance.
\n(a) debit
\n(b) credit
\n(c) overdraft
\n(d) nil.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) nil.<\/p>\n<\/details>\n

\n

Question 19.
\nOn dissolution of a partnership firm, over draft will be transferred to _______.
\n(a) bankA\/c
\n(b) cashA\/c
\n(c) realisation A\/c
\n(d) either realisation account or bank account<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) either realisation account or bank account<\/p>\n<\/details>\n

\n

Question 20.
\nRealisation expenses are debited to ________.
\n(a) bankA\/c
\n(b) realisation A\/c
\n(c) revaluation A\/c
\n(d) partners\u2019 capital A\/c<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) realisation A\/c<\/p>\n<\/details>\n

\n

Question 21.
\nAccumulated profits are transferred to credit of _______.
\n(a) revaluation A\/c
\n(b) partners\u2019capital A;c
\n(c) realisation Ac
\n(d) bankA\/c<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) partners\u2019capital A;c<\/p>\n<\/details>\n

\n

Question 22.
\nAccumulated losses and reserves are transferred to debit of ________ A\/c.
\n(a) revaluation
\n(b) partners\u2019capital A\/c
\n(c) realisation
\n(d) bank<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) partners\u2019capital A;c<\/p>\n<\/details>\n

\n

Question 23.
\nAnu, Bina and Charan are partners. The firm had given a loan of \u20b9 20,000 to Bina. They decided to dissolve the firm. In the event of dissolution, the loan will be settled by
\n(a) transferring it to debit side of Realisation account.
\n(b) transferring it to credit side of Realisation account.
\n(c) transferring it to debit side of Bina\u2019s capital account.
\n(d) Bina paying Anu and Charan privately.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) transferring it to debit side of Bina\u2019s capital account.<\/p>\n<\/details>\n

\n

Fill in the blanks with correct word:<\/span><\/p>\n

Question 24.
\nWhen a liability is discharged by a partner, at the time of dissolution, Capital Account is credited because ______.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: the claim of the partner against the firm is increased by the amount of liability assumed.<\/p>\n<\/details>\n

\n

Question 25.
\nAfter dissolution of firm business of the firm is _________.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Closed<\/p>\n<\/details>\n

\n

Question 26.
\nAt the time of dissolution of firm assets are _______ and liabilities are ________.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: sold, paid off<\/p>\n<\/details>\n

\n

Question 27.
\nIf firm is dissolved then economic relationship between the partners comes to an ________.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: end<\/p>\n<\/details>\n

\n

Question 28.
\nIf firm is dissolved the books of accounts are ______.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Closed<\/p>\n<\/details>\n

\n

Question 29.
\nIf firm is dissolved then ________ automatically will dissolved.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: partnership<\/p>\n<\/details>\n

\n

Question 30.
\nAt the time of dissolution of firm, first of all ______ are settled.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: losses<\/p>\n<\/details>\n

\n

Question 31.
\nPersonal _______ are paid by the partner through assets, at the time of dissolution.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: debts, personal<\/p>\n<\/details>\n

\n

Question 32.
\n_______ debt are paid by the firm through firm\u2019s at the time of dissolution.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Firm\u2019s, assets<\/p>\n<\/details>\n

\n

Question 33.
\nRealisation expenses are paid by the _________ at the time of dissolution of firm.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: firm<\/p>\n<\/details>\n

\n

Question 34.
\nIf any partner takes any asset, then such partner\u2019s capital account will be<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: debited<\/p>\n<\/details>\n

\n

Question 35.
\nIf any partner takes the responsibility to pay any loan, then such partner\u2019s capital account will be ________.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Credited<\/p>\n<\/details>\n

\n

Question 36.
\nIf any partner pays the realisation expenses on behalf of firm, then such partner\u2019s capital account will be _______.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Credited<\/p>\n<\/details>\n

\n

Question 37.
\nAt the time of dissolution, partner\u2019s current account balance will be transferred to _______ account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Partner\u2019s Capital<\/p>\n<\/details>\n

\n

Question 38.
\nAt the time of dissolution, Partner\u2019s capital account balance will be transferred to _______ account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Bank<\/p>\n<\/details>\n

\n

Question 39.
\nPartner\u2019s loan will ________ be recorded in realisation account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: not<\/p>\n<\/details>\n

\n

Question 40.
\nNo entry is required when any ________ accepts fixed assets in lieu of his balance (due).<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Creditor<\/p>\n<\/details>\n

\n

Question 41.
\nPartner\u2019s loan on the assets side is transferred on the ______ side of account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: debit, capital<\/p>\n<\/details>\n

\n

Question 42.
\nLoan due to outsider is paid _____ (after\/before) the loan payable to any partner is paid.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Before<\/p>\n<\/details>\n

\n

Question 43.
\nProvision for doubtful debts is transferred on the credit side of _______ account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: realisation<\/p>\n<\/details>\n

\n

Question 44.
\nUnder partnership at ____, any partner may ask for the dissolution of the firm.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: will<\/p>\n<\/details>\n

\n

State whether the following statements are true or false:<\/span><\/p>\n

Question 45.
\nAt the time of dissolution of firm revaluation account is prepared.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 46.
\nAt the time of dissolution of partnership firm, realisation account is prepared.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 47.
\nRevaluation Account and Realisation Account both are prepared for same purpose.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 48.
\nRealisation Account is a nominal Account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 49.
\nAfter dissolution of partnership firm, books of accounts are closed.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 50.
\nRealisation Account is prepared once in the life of a partnership firm.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 51.
\nAt the time of dissolution, first of all firms\u2019 debt are paid out of partners\u2019 personal assets.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 52.
\nAt the time of firm\u2019s dissolution, partners\u2019 loan is settled before outside liabilities.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 53.
\nAt the time of firm\u2019s dissolution, partners\u2019 loan is settled before partner\u2019s capital.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 54.
\nAt the time of firm\u2019s dissolution, after settling all the accounts, Bank \/ Cash Account automaticallyclosed. After dissolution of firm, business of firm may be continue.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 55.
\nAfter dissolution of firm. business of firm may be continue.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 56.
\nFirm can be dissolved by the Court.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 57.
\nFirm can be dissolved by notice if partnership at will.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 58.
\nA firm can be dissolved with the consent of all the partners.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 59.
\nAt the time dissolution of firm balance of bank will be transferred to Realisation Account.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

One word Questions:<\/span><\/p>\n

Question 60.
\nDifferentiate between Dissolution of Partnership and Dissolution of a Partnership Firm on the basis of \u2018Court\u2019s Intervention\u2019<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:<\/p>\n\n\n\n\n
Base<\/td>\nDissolution of Partnership<\/td>\nDissolution of Firm<\/td>\n<\/tr>\n
Court\u2019s Intervention<\/td>\nCourt does not intervene because partnership is dissolved by mutual agreement.<\/td>\nA firm can be dissolved by court\u2019s order.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/details>\n
\n

Question 61.
\nState any two situations when a partnership firm can be compulsorily dissolved. (CBSE Delhi 2019)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: A firm is compulsorily dissolved in the following cases: (Any two)
\n(i) When all the partners or all but one partner become insolvent.
\n(ii) When the business of the firm becomes illegal.<\/p>\n<\/details>\n

\n

Question 62.
\nDistinguish between \u2018Reconstitution of Partnership\u2019 and \u2018Dissolution of Partnership Firm\u2019 on the basis of \u2018Closure of books\u2019.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:<\/p>\n\n\n\n\n
Basics<\/strong><\/td>\nReconstitution of Partnership<\/strong><\/td>\nDissolution of Partnership Firm<\/strong><\/td>\n<\/tr>\n
Closure of Books<\/td>\nDoes not require because the business is not terminated.<\/td>\nThe books of the accounts are closed.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/details>\n
\n

Question 63.
\nState the basis of calculating the amount of profit payable to the legal representative of a deceased partner in the year of death. (CBSE Outside Delhi 2019)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nProfit may be estimated
\n(a) On the basis of Last year\u2019s profit\/Average profits of last given no. of years
\n(b) On the basis of Tumover\/Sales.<\/p>\n<\/details>\n

\n

Question 64.
\nState any two grounds on the basis of which court may order for the dissolution of partnership firm. (CBSE Outside Delhi 2019)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nAt the suit of a partner, the court may order a partnership firm to be dissolved on any of the following grounds:
\n(a) when a partner becomes insane;
\n(b) when a partner becomes permanently incapable of performing his duties as a partner.<\/p>\n<\/details>\n

\n

Question 65.
\nState any two situations when a partnership firm can be compulsorily dissolved. (CBSE Outside Delhi 2019)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nA firm is compulsorily dissolved in the following-cases:
\n(i) When all the partners or all but one partner become insolvent.
\n(ii) When the business of the firm becomes illegal.<\/p>\n<\/details>\n

\n

Question 66.
\nState any two contingencies that may result into dissolution of a partnership firm.(CBSE Outside Delhi 2019)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nContingencies that may result into dissolution of a partnership firm: .
\n(i) If the firm is constituted for a fixed term, on the expiry of that term
\n(ii) If constituted to carry out one or more ventures, on the completion of the venture.<\/p>\n<\/details>\n

\n

Question 67.
\nState the order of payment of the following, in case of dissolution of partnership firm.
\n(i) to each partner proportionately what is due to him\/her from the firm for advances as distinguished from capital (i.e. partner\u2019 loan);
\n(ii) to each partner proportionately what is due to him on account of capital; and
\n(iii) for the debts of the firm to the third parties; (CBSE Sample Paper 2019-20)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\n(iii) for the debts of the firm to the third parties;
\n(i) to each partner proportionately what is due to him\/her from the firm for advances as distinguished from capital (i.e. partner\u2019 loan);
\n(ii) to each partner proportionately what is due to him on account of capital<\/p>\n<\/details>\n

\n

Question 68.
\nA and B are partners in a firm sharing profits in the ratio of 3 : 2 Mrs. B has given a loan of \u20b9 40,000 to the firm and A has also given a loan of \u20b9 80,000 to the firm. The firm was dissolved and its assets realised \u20b9 60,000.
\nState the order of payment of Mrs. B\u2019s loan and A\u2019s loan assuming that there was no other third party liability – of the firm.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nOrder of payment:
\nFirst, the third party loan i.e. Mrs. B\u2019s loan will be paid.
\nThe Partner\u2019s loan i.e. A\u2019s loan will be paid.<\/p>\n<\/details>\n

\n

Question 69.
\nA, B and C are partners in a firm. On April 1, 2013, A and B were declared insolvent by a court. Will the partnership firm be treated as dissolved?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Yes.<\/p>\n<\/details>\n

\n

Question 70.
\nMohan and Kanwar are partners in a firm. Their firm was dissolved on 1.1.2013. Mohan was assigned the work of dissolution. For this work, Mohan was paid \u20b9 500. Mohan paid dissolution expenses of \u20b9 400 from his own pocket. Will any Journal Entry be passed for \u20b9 400 paid by Mohan?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: No.<\/p>\n<\/details>\n

\n

Ans.<\/p>\n

Question 71.
\nA firm has investments fluctuation fund of? 10,000. It does not have investments on its Balance Sheet at the time of its dissolution. In which account(s), amount of investments fluctuation fund be transferred?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: In Partners\u2019 Capital Accounts.<\/p>\n<\/details>\n

\n

Question 72.
\nWhy is cash balance not transferred to Realisation Account on dissolution of a partnership firm?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Cash is a liquid asset.<\/p>\n<\/details>\n

\n

Question 73.
\nA firm was dissolved on April 1, 2013. Assets side of its Balance Sheet has furniture of \u20b9 2,500 whereas on the liabilities side, creditors appeared for \u20b9 4,000.-Half of the creditors took half of the furniture at 10% discount and remaining creditors were paid at 10% premium. What journal entries are required?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\nNo journal entry will be passed for the first half of the creditors but for the remaining creditors, entry will be:
\n\"MCQ<\/p>\n<\/details>\n

\n

Question 74.
\nShould intangible assets be treated in the manner of treatment of tangible assets at the time of dissolution of partnership firm?<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Yes.<\/p>\n<\/details>\n

\n

Question 75.
\nIn case of dissolution of a firm which liabilities are to be paid first? (CBSE 2011 Compartment Delhi)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Debts of third parties.<\/p>\n<\/details>\n

\n

Question 76.
\nIn case of dissolution of a firm, which item on the liabilities side is to be paid last? (CBSE 2011 Compartment Delhi)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Partners\u2019 capital.<\/p>\n<\/details>\n

\n

Question 77.
\nA firm has furniture of \u20b9 6,000 which was taken over by a creditor of \u20b9 5,000 in full settlement of his claim. Mention whether any journal entry will be passed for this. If yes, pass the journal entry.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: No, journal entry will be passed.<\/p>\n<\/details>\n

\n

Question 78.
\nCreditors of \u20b9 50,000 took over stock at agreed value of \u20b9 45,000 and balance Was paid to him. Pass the journal entry for this transaction.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: The Journal entry will be:
\n\"MCQ<\/p>\n<\/details>\n

\n

Question 79.
\nDrawers of bills payable \u20b9 25,000 took over furniture at agreed value of \u20b9 29,000 and paid the excess value. Pass journal entry for this transaction.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: The Journal entry will be:
\n\"MCQ<\/p>\n<\/details>\n

\n

Ans.<\/p>\n

Question 80.
\nLand and Building (book value) \u20b9 1,60,000 sold for \u20b9 3,00,000 through a broker who charged 2% commission on the deal. Journalise the transaction, at the time of dissolution of the firm. (CBSE Sample Paper 2018-19)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer:
\n\"MCQ<\/p>\n<\/details>\n

\n

Question 81.
\nState any one occasion for the dissolution of the firm on court\u2019s orders when a partner becomes. (Compt. Delhi 2017)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Partner becomes permanently incapable of performing his duties as a partner.<\/p>\n<\/details>\n

\n

Question 82.
\nName the asset that is not transferred to the debit side of Realisation account, but brings certain amount of cash against its disposal at the time of dissolution of the firm. (CBSE Delhi 2014)<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Unrecorded assets<\/p>\n<\/details>\n

\n

Question 83.
\nRam and Shyam formed partnership at will. Ram gave a notice on January 1, 2013 to dissolve the firm. Can partnership firm be dissolved even without consent of Shyam? Give reason.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Yes.<\/p>\n<\/details>\n

\n

Use the above-provided NCERT MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers Pdf free download and get a good grip on the fundamentals. Need any support from our end during the preparation of CBSE Class 12 Accountancy Dissolution of a Partnership Firm MCQs Multiple Choice Questions with Answers then leave your comments below. We’ll revert back to you soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Students who are searching for NCERT MCQ Questions for Chapter 5 Dissolution of a Partnership Firm with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accountancy with Answers. You can also verify your answers from our provided Dissolution of …<\/p>\n

MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers<\/span> Read More »<\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[35],"tags":[],"yoast_head":"\nMCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-12-accountancy-chapter-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"Students who are searching for NCERT MCQ Questions for Chapter 5 Dissolution of a Partnership Firm with Answers Pdf free download are compiled here to get good practice on all fundamentals. 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