Chapter 6


অংশীদাৰী ব্য়ৱসায়ৰ পৰিসমাপ্তি বা অৱসান

Dissolution of Partnership Firm


1. Fill in the blanks with appropriate words from the bracket.

(i) The termination of existing relationship amoug partner is know as ___ dissolution.(partnership/firm)

Ans: Partnership.


(ii) Dissolution of Partnership and dissolution of firm are ___ things. (same/tow different)

Ans: Tow different.


(iii) In cash of firm dissolution the business of the firm will be ___ (continued/discontined)

Ans: Discontined.


(iv) The dissolution of partnership between all the partner of a firm is called the dissolution of the ___. (partnership/firm)

Ans: firm.


(v) In cash of partnership dissolution, it involves ___ of firm. (reconstitution/winding up)

Ans: Reconstitution.


(vi) The Court may dissolve a firm when a partner has become of ___. (unsound mind/insolvent)

Ans: unsound mind.


(vii) The first step in the dissolution process is to prepare ___ on the date of dissolution. (Balance Sheet/Realisation Account)

Ans: Balance Sheet.


(viii) Realisation Account is prepared on ___. (dissolution of firm/dissolution of partnership)

Ans: Dissolution of Firm.


(ix) ___ account is used to show net gain or loos that has resulted from the realisation of assets and settlement of liabilities. (Revaluation/Realisation)

Ans: Realisation.


(x) Dissolution expenses must have a priority over payment to ___. (Creditors/partners)

Ans: Partners.


(xi) No ___ asset is transferred to realisation account. (real/fictitious)

Ans: Fictitious.


(xii) Loss on realisation of assets should be divided in the ___ ratio. (capital/profit shaing)

Ans: Profit shaing.


(xiii) A ___ creditor always stands in a stronger position. (secured/Unsecured)

Ans: Secured.


(xiv) When an unrecorded asset is realised. it is credited to ___ account. (unrecorded asset/realisation)

Ans: Realisation.


(xv) ___ is required to be passed for assets taken over by the creditors. (No entry/Entry)

Ans: No entry.


(xvi) When one of the partners agrees to discharge a liability personally ___ account will be debited. (Partner's Capital/Realisation)

Ans: Realisation.


(xvii) On dissolution Current Account Balances of the partners are finally transferred to ___ account. (partners Capital/Realisation)

Ans: Partners' Capital.


(xviii) After the claim of partners are settled, there will be ___ balance in the Bank/Cash account. (no/some)

Ans: No.


(xix) At the time of dissolution of firm goodwill ___ treated like any other assets. (is/is not)

Ans: is.


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