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On taking Responsibility of payment of a...

On taking Responsibility of payment of a liability of Rs, 50,000 by Partner, the Account credited will be :

A

Realisation Account

B

Cash Account

C

Capital account of the partner

D

Libility Account

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The correct Answer is:
C
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‘Complete the following statement’ When a liability is discharged by a partner, at the time of dissolution, Capital Account is credited because ______________ .

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
  1. Which of the following is transferred to Realisation Account :

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

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

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  4. Cash Balance shown in the Balance sheet is shown on dissolution...

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  5. On Firm 's Dissolution , on realisation of goodwill (which was shown...

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  6. On dissolution of a firm ,Its Balance sheet revealed total credot...

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  7. On Firm 's Dissolution ,when a partner voluntarily gives his person...

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

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  9. On dissolution ,when a patner takes over an asset ………… is debited

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  10. In case of dissolution ,assets are transferred to realisation Ac...

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  11. On dissolution, the balance of a partner's capital account appear...

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  12. On dissolution partner's Loan transferred to :

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  13. Sundry creditors amounted to Rs, 8,000 These were paid at a disco...

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  14. There was an Unrecorded asset of Rs, 2,000 which was taken over ...

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  15. On Dissolution of a firm , an unrecorded furniture of the value o...

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  16. On the basis of following data final payments to a partner on fir...

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  17. On payment of expenses of dissolution , account will be debited :

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  18. An Unrecorded asset was valued at Rs, 1,00,000. On firm 's Dissolu...

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  19. On firm 's Dissolution , a Partner undertook firm 's Creditors at R...

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  20. On Dissolution , losses are first of all met :

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