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Class 12 · Accountancy
→In which situation does a realisation loss arise?
Class 12 · Accountancy
→In which situation can realisation profit arise?
Class 12 · Accountancy
→What is generally done with stock when a partnership firm is dissolved?
Class 12 · Accountancy
→If furniture is sold for ₹5,000 at the time of dissolution of the firm, in which account and on which side will the sale proceeds be recorded?
Class 12 · Accountancy
→What is the first major accounting step in closing the books of a partnership firm on dissolution?
Class 12 · Accountancy
→When dissolution expenses are paid through the bank, on which side of the bank account will they be recorded?
Class 12 · Accountancy
→If the firm’s liabilities are settled at their book value, what will be the effect on the Realisation Account?
Class 12 · Accountancy
→Which account is used to determine the profit or loss arising from the realisation of assets and settlement of liabilities at the dissolution of a firm?
Class 12 · Accountancy
→On dissolution of a firm, to whom is the remaining amount ultimately distributed after paying the external liabilities?
Class 12 · Accountancy
→To which account is the final balance of the Realisation Account transferred?
Class 12 · Accountancy
→What is the main purpose of closing the firm's books at the time of dissolution?
Class 12 · Accountancy
→In which ratio is the profit arising from realisation on the dissolution of a firm distributed among the partners?
Class 12 · Accountancy
→What is the main purpose of the Bank Account at the time of dissolution of a partnership firm?
Class 12 · Accountancy
→At the time of dissolution, a firm's total receipts are ₹25000 and its total payments are ₹15000. What cash balance will remain after making all payments?
Class 12 · Accountancy
→At the time of dissolution, on which side of the Realisation Account is cash received from the sale of assets recorded?
Class 12 · Accountancy
→What happens to the partnership relationship among the partners after the dissolution of the firm?
Class 12 · Accountancy
→At the time of dissolution, if the firm’s stock is sold for ₹12,000, what amount will be realised from the stock?
Class 12 · Accountancy
→What is done with the partners’ capital accounts after the assets are realised and all liabilities are paid on dissolution of the firm?
Class 12 · Accountancy
→What is the main objective of dissolution of a partnership firm?
Class 12 · Accountancy
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