In case of dissolution, assets taken over by a partner shoul
In case of dissolution, assets taken over by a partner should be debited to:
realization account | |
profit and loss account | |
liabilities account | |
partner’s capital account |
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In case of dissolution, the payment of liabilities should be
In case of dissolution, the payment of liabilities should be credited to:
realization account | |
liabilities account | |
cash account | |
profit and loss account |
In case of dissolution, assets sold for cash are debited to:
In case of dissolution, assets sold for cash are debited to:
cash account | |
assets account | |
profit and loss account | |
realization account |
In case of dissolution closing various liabilities are debit
In case of dissolution closing various liabilities are debited to:
realization account | |
profit and loss account | |
revaluation account | |
liabilities account |
In case of dissolution, when all the partners are solvent, c
In case of dissolution, when all the partners are solvent, closing of various assets are credited to:
revaluation account | |
realization account | |
assets account | |
profit and loss account |
It is prepared to find out the result of dissolution, i.e. p
It is prepared to find out the result of dissolution, i.e. profit or loss:
profit and loss account | |
profit and loss appropriation account | |
revaluation account | |
realization account |
The court may dissolve the firm:
The court may dissolve the firm:
all of the above | |
a partner is guilty of misconduct in carrying on the business | |
a business of the firm cannot carried on except at a loss | |
when a partner has become of unsound mind |
Dissolution of firm due to the insolvency or due to the happ
Dissolution of firm due to the insolvency or due to the happening of an event, which n=makes it unlawful for partners to carry on partnership is called:
compulsory dissolution | |
dissolution by agreement | |
dissolution by court | |
dissolution on the happening of certain contingencies |
Dissolution due to completion of venture, death of partner,
Dissolution due to completion of venture, death of partner, insolvency of partner or expiry of the terms fixed is called:
dissolution by notice | |
dissolution by court | |
dissolution on the happening of certain contingencies | |
dissolution by agreement |
Dissolution of firm by the consent of all the partners is ca
Dissolution of firm by the consent of all the partners is called:
dissolution on the happening of certain contingencies | |
dissolution by agreement | |
dissolution by court | |
dissolution by notice |
The end or termination of partnership is called:
The end or termination of partnership is called:
dissolution | |
death | |
admission | |
retirement |
In case of retirement amount of general reserve or any other
In case of retirement amount of general reserve or any other profit is credited to all the partners is:
gaining ratio | |
new profit sharing ratio | |
sacrifice ratio | |
old profit sharing ratio |
In case of retirement, revaluation loss should be debited to
In case of retirement, revaluation loss should be debited to:
retiring partner’s capital A/c | |
remaining partners capital A/c | |
all partners capital A/c | |
revaluation A/c |
The profit on the revaluation of assets and liabilities on t
The profit on the revaluation of assets and liabilities on the retirement of a partner should be credited to the capital account / accounts of:
remaining partners | |
retiring partner | |
all the partners | |
none of these |
In case of retirement of a partner, full goodwill is credite
In case of retirement of a partner, full goodwill is credited to the accounts of:
all the partners | |
remaining partners | |
retiring partner | |
none of these |
In case of retirement, goodwill raised with retiring partner
In case of retirement, goodwill raised with retiring partners share but written off to remaining partners in the:
sacrifice ratio | |
gaining ratio | |
capital ratio | |
new ratio |
In case of retirement, when goodwill is raised with retiring
In case of retirement, when goodwill is raised with retiring partner’s share but written off is credited to:
goodwill A/c | |
retiring partners capital A/c | |
cash A/c | |
retiring partners capital A/c |
In case of retirement, when goodwill is raised but written o
In case of retirement, when goodwill is raised but written off is credited to:
all partners capital A/c | |
retiring partners capital A/c | |
goodwill A/c | |
remaining partners capital A/c |
In case of retirement, when goodwill is raised at full value
In case of retirement, when goodwill is raised at full value, is credited to:
retiring partners capital A/c | |
goodwill A/c | |
remaining partners capital A/c | |
all partners capital A/c |
Gaining ratio is calculated on:
Gaining ratio is calculated on:
admission | |
death | |
retirement | |
‘b’ & ‘c’ |