{"id":7514,"date":"2023-11-24T20:23:13","date_gmt":"2023-11-24T14:53:13","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=7514"},"modified":"2023-11-24T20:23:42","modified_gmt":"2023-11-24T14:53:42","slug":"ncert-class-12-accountancy-mcq-5","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-5\/","title":{"rendered":"NCERT Class 12 Accountancy\u00a0MCQ :\u00a0Dissolution of a Partnership Firm"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-5\/#NCERT_Class_12_Accountancy_MCQ_Dissolution_of_a_Partnership_Firm\" >NCERT Class 12 Accountancy&nbsp;MCQ :&nbsp;Dissolution of a Partnership Firm<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-5\/#NCERT_Class_12_Accountancy_Dissolution_of_a_Partnership_Firm_MCQ_%E2%80%93_NCERT_Class_12_MCQ\" >NCERT Class 12 Accountancy&nbsp;: Dissolution of a Partnership Firm MCQ &#8211; NCERT Class 12 MCQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-5\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_12_Accountancy_MCQ_Dissolution_of_a_Partnership_Firm\"><\/span>NCERT Class 12 <strong>Accountancy&nbsp;<\/strong>MCQ :&nbsp;Dissolution of a Partnership Firm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Delve into the intricacies of business dynamics with our specialized Multiple Choice Questions (MCQs) page on the &#8220;Dissolution of a Partnership Firm.&#8221; Navigate through the complexities of partnership dissolution, featuring questions meticulously curated from the previous year papers of diverse exams, including the esteemed UPSC IAS exams.<\/p>\n\n\n\n<p>This resource is intricately designed to provide a comprehensive understanding of the legal and financial processes involved in dissolving a partnership firm. Whether you&#8217;re a business student or a professional preparing for competitive exams, these MCQs offer a strategic approach to mastering the nuances of partnership dissolution.<\/p>\n\n\n\n<p>Prepare with confidence, knowing that our collection mirrors the diverse question formats encountered in exams across different sectors. From analyzing the legal implications of dissolution to understanding the financial settlements, this page serves as a valuable tool for honing your knowledge of the dissolution process in partnership firms.<\/p>\n\n\n\n<p>Gain a competitive edge by accessing insights derived from real-world applications and historical perspectives embedded in our MCQs. Navigate through the intricacies of partnership dissolution confidently, armed with knowledge distilled from previous year papers and designed to help you excel in exams.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_12_Accountancy_Dissolution_of_a_Partnership_Firm_MCQ_%E2%80%93_NCERT_Class_12_MCQ\"><\/span>NCERT Class 12 <strong><strong><strong><strong><strong>Accountancy&nbsp;<\/strong><\/strong><\/strong><\/strong><\/strong>: Dissolution of a Partnership Firm MCQ<strong> &#8211; NCERT Class 12 MCQ<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In the event of dissolution of partnership firm, the provision for doubtful debts is transferred to <\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99952\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99952\">Partners\u2019 Capital Accounts<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99952\">Sundry Debtors Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99952\">None of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99953\">profit &amp; Loss Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99953\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99953\">Partner\u2019s Capital Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99953\">Cash Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">At the dime of firm\u2019s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99954\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99954\">Creditors\u2019 Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99954\">Partners\u2019 Capital Accounts<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99954\">Profit &amp; Loss Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution, goodwill account is transferred to<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99955\"> In the Capital Accounts of Partners<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99955\"> In the Credit of Cash Accounts<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99955\">In the Debit of Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99955\">In the Credit of Realisation Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">At the time of dissolution of partnership firm, fictitions assets are transferred <\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99956\">Capital Accounts of Partners<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99956\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99956\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99956\">Partners\u2019 Loan Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution of a firm, a partner paid 1,500 Rs. for firm\u2019s realisation expenses. Which account will be debited ?\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99957\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99957\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99957\">Capital Account of the Partner<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99957\">Profit &amp; Loss A\/c<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On taking responsibility of payment of realisation expenses by a partner, the account credited will be<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99958\">Realisastion Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99958\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99958\">Capital Account of the Partner<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99958\">None of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99959\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99959\">Partners\u2019 Capital Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99959\">Partner\u2019s Loan Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99959\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is transferred to Realisation Account ?\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99960\">Balance of Profit Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99960\">Balance of Profit &amp; Loss Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99960\">Amount realised on sale of assets<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99960\">Reserves<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On disolution of firm, loss calculated in realisation account is debited\/credited to which account<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99961\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99961\">Partners\u2019 Capital Accounts<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99961\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99961\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is not transferred to Realisatsion Account<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99963\">Balance of Cash Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99963\">Balance of Reserves<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99963\">Balance of Profit &amp; Loss Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99963\">All of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On taking responsibility of payment of a liability of \u20b9 20,000 by a partner, the account credited will be :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99966\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99966\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99966\">Capital Account of the Partner<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99966\">Liability Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Cash balance shown in the Balance Sheet is shown on dissolution of firm in :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99967\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99967\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99967\">Capital Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99967\">None of the Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">There was an Unrecorded asset of \u20b9 12,000 which was taken over by a partner at \u20b9 10,500. Partner\u2019s Capital Account will be debited by\u2026<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99970\">\u20b9 12,000<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99970\"> \u20b9 10,500<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99970\">\u20b9 1,500<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99970\">\u20b9 32,500<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution of a firm, Bank overdraft is transferred to:\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99972\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99972\">Bank Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99972\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99972\">Partners\u2019 Capital Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution of a firm, Partner\u2019s Loan Account is transferred to:\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99975\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99975\">Partner\u2019s Capital Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99975\">Partner\u2019s Current Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99975\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The accumulated profits and reserves are transferred to:\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99977\">Realisation Accounts<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99977\">Partners\u2019 Capital Accounts<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99977\">Bank Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99977\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution, Goodwill Account is transferred to<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99981\">In the Capital Accounts of Partners<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99981\">On the Credit side of Cash Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99981\">On the Debit side of Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99981\">On the Credit side of Realisation Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">On dissolution, when a partner takes over an asset\u2026\u2026\u2026.is debited :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99983\">Realisation Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99983\">Partner\u2019s Capital Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99983\">Cash Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99983\">Asset Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">After transferring liabilities like creditors and bills payable in the Realisation Account in the absence of any informations regarding their payment, such liabilities are treated as <\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_99986\">Never paid<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_99986\">Fully paid<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_99986\">Partly paid<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_99986\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script 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class=\"wp-block-button is-style-outline is-style-outline--12\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-12\/\">NCERT CLASS 12 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" 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[&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[71],"tags":[5602,5606,5601,5603,5604,5605,589,5067],"class_list":["post-7514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-class-12","tag-business-dynamics","tag-business-exam-prep","tag-dissolution-of-partnership-firm","tag-financial-settlements","tag-legal-processes","tag-partnership-dissolution-laws","tag-previous-year-papers","tag-upsc-ias-exams","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/7514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=7514"}],"version-history":[{"count":2,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/7514\/revisions"}],"predecessor-version":[{"id":7535,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/7514\/revisions\/7535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/7532"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=7514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=7514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=7514"}],"curies":[{"name":"wp",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