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Closing The Business

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

AccountancyAn unrecorded liability of ₹7,000 is paid. What effect will this transaction have on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat is the main objective of closing (dissolving) a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a firm, on which side of the Realisation Account are external liabilities transferred?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, the account prepared to record the profit or loss from the realisation of assets and settlement of liabilities is ultimately closed into which account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, a creditor to whom ₹12,000 was payable accepted a payment of ₹11,800. What gain did the firm earn from this settlement?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhy is the cash balance not transferred to the Realisation Account at the time of dissolution?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a firm, in which order is a partner’s loan paid?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, an asset has a book value of ₹80,000 and is sold for ₹90,000. What profit will be recorded in the Realisation Account on the sale of the asset?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 AccountancyOn the dissolution of a partnership firm, in which ratio is the reserve fund generally distributed among the partners?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a firm, when is the remaining cash finally distributed among the partners?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 a partner takes over an asset, which account is credited?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, a machine with a book value of ₹50,000 is sold for ₹47,000. What is the result of this transaction?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 AccountancyWhat is the process called when a partnership firm’s business is completely closed and the firm ceases to exist?Class 12Dissolution of a Partnership FirmClosing the BusinessHard