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Class 12 · Accountancy
→At the time of dissolution, if a liability is settled by transferring an asset to the creditor instead of making a cash payment, but the transaction is not recorded in the books, what will be the main effect?
Class 12 · Accountancy
→At the time of dissolution, an asset has a book value of zero but is sold for ₹10,000. What will be the effect on the Realisation Account?
Class 12 · Accountancy
→On dissolution of a partnership firm, if all transactions relating to the transfer and realisation of assets and the settlement of liabilities are recorded correctly in the Realisation Account, what will the balance of this account represent?
Class 12 · Accountancy
→At the time of dissolution, if the calculated closing balance of the Realisation Account is incorrect, what does it generally indicate?
Class 12 · Accountancy
→If all errors in the Realisation Account are corrected before the books are closed, what will be the final effect?
Class 12 · Accountancy
→At the time of dissolution, ₹15,000 out of a liability of ₹20,000 was paid, but the payment was not recorded. If the liability had already been transferred to the Realisation Account, what would be the effect on the Realisation Account?
Class 12 · Accountancy
→If an incorrect sale price is recorded instead of the actual sale proceeds of an asset in the Realisation Account at the time of dissolution, what will be the main effect?
Class 12 · Accountancy
→What will be the effect of recording an item in the Realisation Account when it has no connection with the realisation process?
Class 12 · Accountancy
→On dissolution of a firm, a creditor’s liability of ₹20,000 is recorded in the Realisation Account under the name of another creditor, although the amount is correct. What will be the primary effect?
Class 12 · Accountancy
→During dissolution, if all entries relating to assets, liabilities, realisation proceeds and payments are recorded on the exact opposite sides of the Realisation Account, what will be the effect?
Class 12 · Accountancy
→At the time of dissolution, if a partner takes over an unrecorded asset but the transaction is omitted from the books, what will be the main effect?
Class 12 · Accountancy
→If the transfer of assets and liabilities is recorded correctly but an adjustment in the Realisation Account is made incorrectly, what will be the effect?
Class 12 · Accountancy
→If the profit or loss on realisation is calculated incorrectly, what will be directly affected at the time of dissolution?
Class 12 · Accountancy
→At the time of dissolution, if all assets are recorded correctly in the Realisation Account but liabilities are recorded at incorrect amounts, what will be the result?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, if an asset is recorded in the Realisation Account at a value different from its book value, what type of error is this?
Class 12 · Accountancy
→If the cash received from the sale of an asset is recorded at an incorrect amount in the Realisation Account, which figure will definitely be misstated?
Class 12 · Accountancy
→If all errors recorded in the Realisation Account at the time of dissolution are corrected, what will be the result?
Class 12 · Accountancy
→At the time of dissolution, if a liability is mistakenly credited twice to the Realisation Account, what will be the effect?
Class 12 · Accountancy
→At the time of dissolution, if an asset is recorded at a book value lower than its actual realisable value, what will be the effect on the profit of the Realisation Account?
Class 12 · Accountancy
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