Accountancy MCQs for Class 12 with Answers Chapter 5 Dissolution of a Partnership with Answer

Accounts MCQ Class 12 : Accountancy MCQs for Class 12 with Answers Chapter 5 “Dissolution of a Partnership“. Practicing CBSE RBSE and NCERT Accountancy MCQ Questions for Class 12 with Answers is one of the best ways to prepare for the CBSE Class 12 board exam.

Accountancy MCQs for Class 12 with Answers Chapter 5 Dissolution of a Partnership with Answer

Accountancy MCQs for Class 12 with Answers Chapter 5 Dissolution of a Partnership with Answer

Q1. When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :

(a) Realisation Account
(b) Partners’ Capital Account
(c) Partner’s Loan Account
(d) None of these

(b) Partners’ Capital Account


Q2. Which of the following is transferred to Realisation Account ?

(a) Balance of Profit Account
(b) Balance of Profit & Loss Account
(c) Amount realised on sale of assets
(d) Reserves

(c) Amount realised on sale of assets


Q3. On disolution of firm, loss calculated in realisation account is debited/credited to which account ?

(a) Cash Account
(b) Partners’ Capital Accounts
(c) Realisation Account
(d) None of these

(b) Partners’ Capital Accounts


Q4. Which of the following is not transferred to Realisatsion Account ?

(a) Balance of Cash Account
(b) Balance of Reserves
(c) Balance of Profit & Loss Account
(d) All of the above

(d) All of the above


Q5. On taking responsibility of payment of a liability of ₹ 20,000 by a partner, the account credited will be :

(a) Realisation Account
(b) Cash Account
(c) Capital Account of the Partner
(d) Liability Account

(c) Capital Account of the Partner


Q6. Cash balance shown in the Balance Sheet is shown on dissolution of firm in : Accountancy MCQs for Class 12 with Answers Chapter 5

(a) Realisation Account
(b) Cash Account
(c) Capital Account
(d) None of the Account

(b) Cash Account


Q7. At the time of dissolution of a partnership firm, all assets (except fictitious) are transferred to _ account.

(a) realisation
(b) revaluation
(c) capital
(d) loan.

(a) realisation


Q8. At the time of dissolution, partner’s loan account is closed by _.

(a) transferring in realisation
(b) payment
(c) abolished
(d) none of these.

(b) payment


Q9. At the time of dissolution of partnership firm, balance of cash and bank will be transferred to _ account.

(a) realisation
(b) revaluation
(c) bank
(d) capital

(c) bank


Q10. At the time of dissolution of partnership firm _ account is prepared. Accountancy MCQs for Class 12 with Answers Chapter 5

(a) realisation
(b) partners capital
(c) bank
(d) All of these

(d) All of these


Q11. After the dissolution of firm, business of the firm will automatically __.

(a) continued
(b) closed
(c) extended
(d) None of these

(b) closed


Q12. Realisation account can be prepared _ in the life of firm.

(a) many
(b) once
(c) two
(d) three

(b) once


Q13. Revaluation account can be prepared __ time(s) in the firm.

(a) many
(b) one
(c) two
(d) three

(a) many


Q14. Unrecorded assets taken over any creditor will __.

(a) be debited to realisation account
(b) be debited and credited both to realisation account
(c) be credited to realisation account
(d) not be recorded anywhere.

(d) not be recorded anywhere.


Q15. Unrecorded liability will be __ to realisation account when paid.

(a) debited
(b) debited and credited both
(c) credited
(d) paid

(a) debited


Q16. Why is realisation account prepared Accountancy MCQs for Class 12 with Answers Chapter 5

a) Closing the accounts
b) Opening the account
c) For profit sharing
d) None of the options

a) Closing the accounts


Q17. How will goodwill account appearing in the balance sheet be treated in case of dissolution of the firm

a) By transferring to realisation A/c (Dr. Side)
b) By transferring to realisation A/c (Cr. Side)
c) Both Side
d) None of the options

a) By transferring to realisation A/c (Dr. Side)


Q18. How will you treat accumulated profit/losses at the time of dissolution of the firm

a) Transferred to partners Capital A/C
b) Transferred to partners Capital A/C
c) Transferred to partners Salary A/C
d) None of the options

a) Transferred to partners Capital A/C


Q19. what will be the accounting treatment of balance of the realisation account

a) Transferred to partners Capital A/C in their profit sharing ratio
b) Transferred to partners Capital A/C in their old ratio
c) Transferred to partners Capital A/C in their new ratio
d) None of the options

a) Transferred to partners Capital A/C in their profit sharing ratio


Q20. At the time of dissolution of the firm , if goodwill appears in the balance sheet , it is transferred to

a) Realisation A/c
b) Revaluation A/c
c) Capital A/c
d) Current Account

a) Realisation A/c


Q21. At the time of dissolution of the firm , the assets and liabilities appearing in the balance sheet are transferred to Accountancy MCQs for Class 12 with Answers Chapter 5

a) Realisation A/c
b) Real Account
c) Capital A/c
d) None of the options

a) Realisation A/c

Accountancy MCQs for Class 12 Chapter Wise with Answers Pdf Download

MCQs for Class 12 Accountancy Chapter 1 Accounting for Partnership Firms — Fundamentals
MCQs for Class 12 Accountancy Chapter 2 Change in Profit Sharing Ratio among the Existing Partners
MCQs for Class 12 Accountancy Chapter 3 Admission of a Partner
MCQs for Class 12 Accountancy Chapter 4 Retirement or Death of a Partner
MCQs for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm
MCQs for Class 12 Accountancy Chapter 6 Financial Statements of Not-for-Profit Organisations (N.P.O.)
MCQs for Class 12 Accountancy Chapter 7 Issue of Shares
MCQs for Class 12 Accountancy Chapter 8 Issue of Debentures
MCQs for Class 12 Accountancy Chapter 9 Redemption of Debentures
MCQs for Class 12 Accountancy Chapter 10 Financial Statements of Companies
MCQs for Class 12 Accountancy Chapter 11 Financial Statements Analysis
MCQs for Class 12 Accountancy Chapter 12 Comparative Statements
MCQs for Class 12 Accountancy Chapter 13 Common Size Statements
MCQs for Class 12 Accountancy Chapter 14 Accounting Ratios
MCQs for Class 12 Accountancy Chapter 15 Cash Flow Statement

Accountancy MCQs for Class 12 Chapter Wise with Answers Pdf Free Download will help you. Accountancy MCQs for Class 12 with Answers Chapter 5 Dissolution of a Partnership with Answer