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Closing Business

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyWhat is the main objective of closing (dissolving) a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhen investments are sold at their book value on the dissolution of a firm, what is the effect in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of the firm, on which side of the partners’ capital accounts is the realisation loss recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a partnership firm, if all assets are taken over by the partners in their individual accounts instead of being sold to external buyers, how much cash will be realised from the assets?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAn unrecorded asset is sold for ₹6,000. Which account will be credited for this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a firm, under which category of liabilities is the bank loan paid first from the realisation proceeds?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, to which account is the final balance of the Realisation Account ultimately transferred?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of the firm, if the external liabilities payable are not transferred to the Realisation Account, which account will remain incomplete?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf the debit side of the Realisation Account exceeds its credit side, what will be the result?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIn the dissolution of a firm, in which ratio is the profit arising from the Realisation Account distributed among the partners?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyThe amount received from the sale of an unrecorded asset is credited to which account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, a creditor accepted ₹9,600 in full settlement of a claim of ₹10,000. What gain will the firm earn from this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of the firm, external liabilities are generally transferred to which account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf an unrecorded liability of ₹4000 existed but no payment was required what is the effect on Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn the dissolution of a partnership firm, assets with a book value of ₹1,10,000 were sold for ₹1,18,000, and realisation expenses amounted to ₹3,000. What will be the net realisation profit?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat does the final balance of the Realisation Account indicate upon the dissolution of a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn the dissolution of a partnership firm, a realisation loss of ₹24,000 is shared between the partners in the ratio 3:1. What amount of loss will be borne by the second partner?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of the firm, before settling the amount due to creditors, to which account is the Creditors Account transferred?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf there is a loss in the Realisation Account, how is it treated in the partners’ capital accounts?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, assets valued at ₹85000 were sold for ₹90000, and realization expenses amounted to ₹2000. What is the net profit from this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessHard