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Realisation A/C is a :...

Realisation A/C is a :

A

Nominal A/C

B

Real A/C

C

Personal A/C

D

Real A/C as well as personal A/c

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The correct Answer is:
A
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Realisation Account

A , B and C were equal partners . On 31st March , 2019, their Balance Sheet stood as : The firm was dissolved on the above date on the following terms : (a) For the purpose of dissolution ,Investments were valued at ₹ 18,000 and A took over the Investments at this value . (b) Fixed Assets realised ₹ 29,700 whereas Stock and Debtors realised ₹ 80,000. (c) Expenses of realisation amounted to ₹ 1,300. (d) Creditors allowed a discount of ₹ 800. (e) One Bill Receivable for ₹1,500 under discount was dishonoured as the acceptor had become insolvent and was unable to pay anything and hence the bill had to be met by the firm . Prepare Realisation Account , Partner's Capital Accounts and Cash Account showing how the accounts would finally by settled among the partners .

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
  1. On dissolution of a partnership firm , profit or loss on realisatio...

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

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  3. Realisation A/C is a :

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

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  5. A partnership firm is compulsorily dissolved ):

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

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

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

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

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

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

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

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

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

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

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

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

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

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  19. Which of the following in not transferred to Realisation Account:

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  20. On taking Responsibility of payment of a liability of Rs, 50,000 by Pa...

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