Dissolution of a Partnership Firm MCQs

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Dissolution of a Partnership Firm MCQs

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1. At the time of dissolution of firm, at which stage the balance of partner’s capital accounts is paid?

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2. At the time of dissolution of firm, “Loan of partners” (Loans given by partners to the firm) is paid out of the amount realised on sale of assets :

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3. Unrecorded liability, when paid on dissolution of a firm is debited to :

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4. In the event of dissolution of a partnership firm, the provision for doubtful debts is transferred to

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5. On dissolution of a firm, realisation account is debited with

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6. On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners

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7. On firm’s dissolution, which one of the following account should be prepared at the last?

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8. In which condition a partnership firm is deemed to be dissolved?

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9. Court can make an order to dissolve the firm when :

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10. On dissolution of a firm, out of the proceeds received from the sale of assets will be paid first of all

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