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Class 12 · Accountancy · Easy
→What is the main objective of settling liabilities at the time of dissolution of a firm?
Class 12 · Accountancy · Easy
→At the time of dissolution, an asset of the firm has a book value of ₹9,000 and is sold for ₹11,000. What will be the result?
Class 12 · Accountancy · Easy
→After the dissolution process is completed and all payments are made, what is generally the final balance in the firm’s bank account?
Class 12 · Accountancy · Easy
→What is generally the next step after selling all the assets of a partnership firm?
Class 12 · Accountancy · Easy
→At the time of dissolution of a firm, to which account are non-cash assets transferred?
Class 12 · Accountancy · Easy
→At the time of dissolution, furniture is sold for ₹7,000. In which account will the sale proceeds be credited?
Class 12 · Accountancy · Easy
→What happens to the partnership relationship among the partners after the dissolution of the partnership firm?
Class 12 · Accountancy · Easy
→What is the main objective of dissolving a partnership firm?
Class 12 · Accountancy · Easy
→At the time of dissolution, which of the following assets is generally not transferred to the Realisation Account?
Class 12 · Accountancy · Easy
→At the time of dissolution of a firm, the available cash balance is generally not transferred to which account?
Class 12 · Accountancy · Easy
→What is the process of selling assets and converting them into cash called?
Class 12 · Accountancy · Easy
→Which account is prepared on the dissolution of a partnership firm?
Class 12 · Accountancy · Easy
→What is meant by dissolution of a firm?
Class 12 · Accountancy · Easy
→If an asset has a book value of ₹10,000 and is sold for ₹13,000, what is the difference of ₹3,000 called?
Class 12 · Accountancy · Easy
→What is the main purpose of closing the accounts when a partnership firm is dissolved?
Class 12 · Accountancy · Easy
→On the dissolution of a partnership firm, total cash receipts are ₹30,000 and total cash payments are ₹22,000. What will be the remaining cash balance?
Class 12 · Accountancy · Easy
→After realizing all assets, paying liabilities, and making the final settlement with partners on dissolution of a firm, what should generally be the final balance of the bank account?
Class 12 · Accountancy · Easy
→During the dissolution of a partnership firm, what is the next major step after cash is realised from the sale of all assets?
Class 12 · Accountancy · Easy
→At the time of dissolution of a firm, in which account is the sale proceeds of machinery recorded?
Class 12 · Accountancy · Easy
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