Home > Class 12 Accountancy > Quizzes > MCQs for Dissolution of a Partnership
MCQs for Dissolution of a Partnership
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 25% • Most missed: “Sundry Creditors amounted to ?”
MCQs for Dissolution of a Partnership
Time left 00:00
25 Questions

1. Unrecorded liability, when paid on dissolution of a firm is debited to :
2. On dissolution, if a partner undertakes to make payment of a liability of the firm is debited)
3. On dissolution, when a partner takes over an unrecorded asset, is credited :
4. At the time of dissolution of a firm, Creditors are ₹70,000; Partners’ capital is ₹1,20,000; Cash Balance is ₹10,000. Other assets realised ₹1,50,000. Profit/Loss in the realisation account will be :
5. A partnership firm is compulsorily dissolved :
6. On dissolution of a firm, out of the proceeds received from the sale of assets will be paid first of all
7. On dissolution, the balance of ‘Profit & Loss Account’ appearing on the assets side of a Balance Sheet is transferred to :
8. On dissolution of a firm, firm’s Balance Sheet total is ₹77,000. On the assets side of the Balance Sheet items were shown preliminary expenses ₹2,000; Profit & Loss Account (Debit) Balance ₹4,000 and Cash Balance ₹1,800. Loss on realisation was ₹6,300. Total assets (including cash balance) realised will be :
9. In which condition a partnership firm is deemed to be dissolved?
10. Sundry Creditors amounted to ?8,000. These were paid at a discount of 5%. Realisation account will be debited by
11. On dissolution, when a partner takes over an asset is debited
12. On dissolution of firm, loss calculate in realisation account is debited/credited to which account?
13. On dissolution, partner’s loan is transferred to :
14. On payment of expenses of dissolution, account will be debited :
15. If total assets of a firm are ₹12,00,000 and total liabilities are ₹2,40,000, what will be the capitals of P, Q and R if they share profits in the ratio of their capitals and profit sharing ratio is 1 : 2 : 3 :
16. In the Balance Sheet Total Debtors appear at ₹50,000 and Provision for Doubtful Debts appear at ₹1,500. How much amount will be realised from Debtors, if bad debts amount to ₹10,000 and remaining debtors are realised at a discount of 5%
17. At time of dissolution of partnership firm, the balance of profit and loss account shown in the assets side of Balance sheet of the firm is transferred to:
18. On firm’s dissolution, on realisation of goodwill (which was shown in Balance Sheet) will be credited to :
19. At the time of dissolution of firm, at which stage the balance of partner’s capital accounts is paid?
20. On dissolution of a firm, a partner’s capital account has a credit balance of ₹42,000. His share of profit in realisation account is ?9,000. He has paid firm’s realisation expenses ₹3,000. He will finally get a payment of:
21. On dissolution, the balance of a partner’s capital account appearing on the assets side of a balance sheet is transferred to :
22. Anu, Bina and Charan are partners. The firm had given a loan of ₹20,000 to Bina. On the event of dissolution, the loan will be settled by :
23. On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners
24. On dissolution of firm, which item is debited to the realisation account?:
25. On dissolution of a firm, a partner paid ₹700 for firm’s realisation expenses. Which account will be debited?

⚡ Recently practiced quizzes in this topic
Live quiz activity
MCQs for Accounting for Partnership Firms MCQs for Common Size Statements Accounting For Partnership Firms Goodwill (MCQs) MCQs for Financial Statements of Not-for-Profit Organisations (N.P.O.) MCQs for Issue of Shares Accounting For Partnership Firms (MCQs) MCQs for Cash Flow Statement MCQs for Change in Profit Sharing Ratio among the Existing Partners MCQs for Admission of a Partner MCQs for Accounting Ratios
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.