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On dissolution of a partnership firm ,...

On dissolution of a partnership firm , profit or loss on realisation is distrbuted among the partners

A

In capital ratio

B

In profit sharing ratio

C

Equally

D

None of the above

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The correct Answer is:
D
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State the order of payment of the following, in case of dissolution of partnership firm. i. to each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner’ loan), ii. to each partner proportionately what is due to him on account of capital, and iii. for the debts of the firm to the third parties,

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
  1. On dissolution , if a partner undertakes to make payment of a liabi...

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  2. Unrecorded liability , when paid on dissolution of a firm is de...

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  3. On dissolution of a partnership firm , profit or loss on realisatio...

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  4. On Dissolution of the firm , amount received from sale of unreco...

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  5. Realisation A/C is a :

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  6. In the event of dissolution of firm , the partner's personal asset...

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  7. A partnership firm is compulsorily dissolved ):

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  8. At the time of firm 's dissolution , Balance of general Reserve s...

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  9. On dissolution , Goodwell account is transferred to ):

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  10. At the time of dissolution of partnership firm , Fictitous asset...

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  11. At time of dissolution of partnership firm , the balance of profi...

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  12. At the time of dissolution of partnership firm , the amount of '...

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  13. On dissolution , the final balance of capital accounts accounts ...

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  14. Change in the existing agreement between the partners is called :

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  15. At time of dissolution of partnership firm , the balance of profi...

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  16. On Dissolution of a firm , a partner paid Rs. 700 for firm 's Real...

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  17. On taking responsibilty of payment of Realisation expenses by a p...

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  18. On dissolution of firm .Loss calculate in realisation account is ...

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  19. Profit or loss of realisation account is transferred to :

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  20. Which of the following is transferred to Realisation Account :

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