Question 1 :
Dissolution of the partnership is _________ in nature, as it is dissolved by mutual agreement. Conversely, a firm is dissolved either ________________.

Question 2 :
When balance sheet prepared after the new partnership assets and liabilities are recorded at :

Question 3 :
If a partner cannot clear his debts on dissolution, the other partners must clear these debts in the following manner:

Question 4 :
On dissolution, all assets are transferred to realization account at ________.<br/>

Question 5 :
Application to court for dissolution of a firm can be made :

Question 6 :
XY Associates a partnership firm is having two partners X and Y. In a fatal road accident X lost his life. The firm now stands __________.

Question 8 :
On the dissolution of a firm, loan from the wife of a partner is treated as ____________.<br/>

Question 9 :
Premium paid on the life policy of the proprietor should be debited to Insurance Premium Account.

Question 10 :
Declaration by directors of the company at the time of solvency is called as __________.

Question 12 :
Dissolution of partnership between all the partners of the firm is called __________.

Question 14 :
When a firm is dissolved, Goodwill a/c is closed by transferring to:<br/>

Question 15 :
In dissolution of partnership, _________ account is created, whereas _________ account is prepared in dissolution of firm.

Question 16 :
In order to file a suit against a client for non-payment of dues an unregistered firm is required to first :

Question 17 :
X,Y and Z are three partners sharing profit and loss in the ratio of&#160; 3:2:1. The firm took joint life policy of Rs.30,000 for X,Rs.20,000 for Y and Rs.10,000 for Z. What is the share of Z in the Joint Life policy?

Question 18 :
In which of the following case Garner v Murray rule is NOT applicable? <br>1. Only one partner is solvent.<br>2. All partners are insolvent.<br>3. When partnership deed provides a specific method to be followed in case of insolvency of a partner<br><br>Select the correct answer from the options given below-<br>

Question 19 :
The amount due to the retiring partner can be made by ________.