Dissolution Questions

Match List-I with List-IIList-I (Events)List-II (Result)(A) Termination of business(I) Not possible in the dissolution of partnership(B) Continuation of business(II) Not possible in the dissolution of a firm(C) Intervention of court(III) Dissolution of firm(D) Continuation of books of accounts(IV) Dissolution of partnershipChoose the correct answer from the options given below:

Which Journal Entry will be recorded for realization of an unrecorded asset at the time of dissolution of a Partnership Firm?

In the case of dissolution of a partnership firm, unrecorded liabilities when paid are shown in:

Romesh took over Investments at Rs. $8,100$ which is $10\%$ less than its book value. The book value of the investment was:

Identify the steps involved in the accounting treatment in the case of dissolution of a firm:(A) Capital accounts of partners are prepared and their final settlement is done.(B) The balance of realisation account (profit or loss on realization) is transferred to partners' capital accounts in the profit sharing ratio.(C) All assets and all external liabilities are transferred to the realisation account.(D) Realisation account is prepared.(E) Bank account is prepared.Choose the correct answer from the options given below:

Anubha looked after the dissolution work for a remuneration of Rs. $8,500$ and agreed to bear dissolution expenses up to Rs. $6,000$. Actual expenses paid by her were Rs. $7,600$. In this case:(A) Realisation A/c is debited by Rs. $10,100$ (B) Anubha's Capital A/c is credited by Rs. $9,600$.(C) Realisation A/c is debited by Rs. $13,600$.(D) Anubha's Capital is credited by Rs. $10,100$.Choose the correct answer from the options given below:

In which of the following ways does the dissolution of a firm take place?(A) Dissolution by agreement(B) Compulsory dissolution(C) On the happening of certain contingencies(D) Dissolution by noticeChoose the correct answer from the options given below:

On the happening of certain contingencies, subject to contract between the partners, a firm is dissolved: (A) If constituted for a fixed term, by the expiry of that term.(B) If constituted to carry out one or more ventures, by the completion thereof.(C) By the death of a partner.(D) By the adjudication of a partner as an insolvent. Choose the correct answer from the options given below:

At the time of dissolution of a firm, the Loan from a Partner Account should be:

The order to be followed in preparation of a realization account is:(A) Realization of the assets.(B) Transfer assets and liabilities to realization account.(C) Ascertainment of profit or loss on realization.(D) Payment of liabilities.Choose the correct answer from the options given below:

Under which condition can the dissolution of a Partnership Firm by a Court take place?