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Class 12 · Accountancy
→On which side of the Realisation Account are external liabilities recorded?
Class 12 · Accountancy
→On which side are assets recorded in the Realisation Account when a partnership firm is dissolved?
Class 12 · Accountancy
→What is meant by the dissolution of a partnership firm?
Class 12 · Accountancy
→At the time of dissolution of the firm, if machinery is sold for ₹12,000, what amount will be received from its sale?
Class 12 · Accountancy
→After all adjustments and final settlement on dissolution of the firm, which account has a nil balance?
Class 12 · Accountancy
→What is the primary use of the bank account during the dissolution of a firm?
Class 12 · Accountancy
→If a liability of ₹8,000 is paid in cash, by how much will the cash balance decrease?
Class 12 · Accountancy
→In the usual order of settling liabilities on the dissolution of a firm, whose claim is paid first?
Class 12 · Accountancy
→Why are the partners’ capital accounts closed on the dissolution of a firm?
Class 12 · Accountancy
→On dissolution of the firm, if the Realisation Account shows a profit of ₹6,000, to whom and in what ratio will this profit be transferred?
Class 12 · Accountancy
→What is the process of selling the firm’s assets and converting them into cash at the time of dissolution called?
Class 12 · Accountancy
→Which of the following assets is not transferred to the Realisation Account at the time of dissolution?
Class 12 · Accountancy
→When are the external liabilities paid during the dissolution process of a firm?
Class 12 · Accountancy
→What is the main purpose of the Realisation Account at the time of dissolution of a partnership firm?
Class 12 · Accountancy
→On dissolution of a firm, to whom is the final cash balance paid after settling outside liabilities and other amounts due?
Class 12 · Accountancy
→At the time of dissolution, if an asset is sold for ₹10,000, what amount will be credited to the Realisation Account?
Class 12 · Accountancy
→Dissolution expenses are generally debited to which account?
Class 12 · Accountancy
→What happens to the existence of the firm after dissolution?
Class 12 · Accountancy
→To which account is the realisation loss transferred?
Class 12 · Accountancy
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