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CBSE Class 12 Commerce Accountancy · Ch 4: Dissolution of Partnership Firm

CBSE Class 12 Commerce Accountancy · Ch 4: Dissolution of Partnership Firm is an online chapter test in the CBSE Class 12 Commerce pattern, covering Dissolution of Partnership Firm. Attempt it on SeatBeat with a timer like the real exam, then see a detailed solution for every question and your score and weak-topic analysis.

30
Questions
20
Minutes
30
Marks
None
Negative marking
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Topics in this test

TopicQuestions
Dissolution of Partnership Firm30

Difficulty: 8 medium · 22 hard

Dissolution of Partnership Firm MCQ questions with answers

The first 3 of 30 questions. Unlock the series for the rest, each with a solution.

  1. Q1. Sundry assets (other than cash) of book value ₹1,20,000 were realised at 90% of their value. Creditors of ₹50,000 were settled at a discount of 10%, and realisation expenses of ₹3,000 were paid. The result of the Realisation Account is:

    विविध सम्पत्तियाँ (नकद के अतिरिक्त) जिनका पुस्तक मूल्य ₹1,20,000 था, अपने मूल्य के 90% पर वसूल की गईं। ₹50,000 के लेनदारों का निपटान 10% की छूट पर किया गया, और ₹3,000 के वसूली व्यय का भुगतान किया गया। वसूली खाते का परिणाम है:

    • A. Loss of ₹5,000 / ₹5,000 की हानि
    • B. Loss of ₹13,000 / ₹13,000 की हानि
    • C. Loss of ₹10,000 / ₹10,000 की हानि
    • D. Profit of ₹10,000 / ₹10,000 का लाभ
    Solution

    Assets realised $= 1{,}20{,}000 \times \frac{90}{100} = ₹1{,}08{,}000$; creditors paid $= 50{,}000 \times \frac{90}{100} = ₹45{,}000$; debit side $= 1{,}20{,}000 + 45{,}000 + 3{,}000 = 1{,}68{,}000$, credit side $= 50{,}000 + 1{,}08{,}000 = 1{,}58{,}000$, giving a loss of ₹10,000.

    वसूल की गई सम्पत्तियाँ $= 1{,}20{,}000 \times \frac{90}{100} = ₹1{,}08{,}000$; लेनदारों को भुगतान $= 50{,}000 \times \frac{90}{100} = ₹45{,}000$; नाम पक्ष $= 1{,}20{,}000 + 45{,}000 + 3{,}000 = 1{,}68{,}000$, जमा पक्ष $= 50{,}000 + 1{,}08{,}000 = 1{,}58{,}000$, जिससे ₹10,000 की हानि होती है।

  2. Q2. A General Reserve appearing on the liabilities side of the Balance Sheet at the time of dissolution of the firm should be:

    फर्म के विघटन के समय चिट्ठे (Balance Sheet) के दायित्व पक्ष में दिखाई देने वाले सामान्य संचय (General Reserve) को होना चाहिए:

    • A. Credited to the Realisation Account / वसूली खाते में जमा किया जाए
    • B. Debited to the Realisation Account / वसूली खाते में नाम किया जाए
    • C. Credited to the partners' capital accounts in their profit-sharing ratio / साझेदारों के पूँजी खातों में उनके लाभ-विभाजन अनुपात में जमा किया जाए
    • D. Shown on the assets side of the Realisation Account / वसूली खाते के सम्पत्ति पक्ष में दिखाया जाए
    Solution

    Accumulated profits and reserves do not belong to any single asset or liability, so they are distributed among the partners by crediting their capital accounts in the profit-sharing ratio and are not passed through the Realisation Account.

    संचित लाभ और संचय किसी एक सम्पत्ति या दायित्व के नहीं होते, अतः उन्हें साझेदारों के बीच लाभ-विभाजन अनुपात में उनके पूँजी खातों को जमा करके वितरित किया जाता है और इन्हें वसूली खाते के माध्यम से नहीं ले जाया जाता।

  3. Q3. On dissolution, which one of the following is the 'odd one out' because it is NOT transferred to the Realisation Account?

    विघटन पर, निम्नलिखित में से कौन-सा 'विषम' (odd one out) है क्योंकि इसे वसूली खाते में हस्तांतरित नहीं किया जाता?

    • A. Debit balance of Profit & Loss Account / लाभ-हानि खाते का नाम शेष
    • B. Sundry Creditors / विविध लेनदार
    • C. Bills Payable / देय विपत्र
    • D. Machinery / मशीनरी
    Solution

    Machinery, creditors and bills payable are all transferred to the Realisation Account, but the debit balance of Profit & Loss Account (accumulated loss) is transferred directly to the partners' capital accounts.

    मशीनरी, लेनदार और देय विपत्र सभी वसूली खाते में हस्तांतरित किए जाते हैं, परंतु लाभ-हानि खाते का नाम शेष (संचित हानि) सीधे साझेदारों के पूँजी खातों में हस्तांतरित किया जाता है।

Frequently asked questions

How many questions are in the CBSE Class 12 Commerce Accountancy · Ch 4: Dissolution of Partnership Firm?

30 questions for 30 marks, to be answered in 20 minutes.

Is there negative marking in the CBSE Class 12 Commerce Accountancy · Ch 4: Dissolution of Partnership Firm?

No — wrong answers are not penalised in this test.

Which topics does the CBSE Class 12 Commerce Accountancy · Ch 4: Dissolution of Partnership Firm cover?

Dissolution of Partnership Firm (30 questions).

Is the CBSE Class 12 Commerce Accountancy · Ch 4: Dissolution of Partnership Firm free?

It is part of the CBSE Class 12 Commerce Test Series 2027 — Chapter-wise + Full Tests (38 tests, ₹199). You can first try Accountancy · Ch 1: Accounting for Partnership: Basic Concepts for free.

More tests in the CBSE Class 12 Commerce Test Series 2027 — Chapter-wise + Full Tests

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Dissolution of Partnership Firm MCQ | CBSE Class 12 Commerce