Question 1 :
If a partner cannot clear his debts on dissolution, the other partners must clear these debts in the following manner:

Question 3 :
Premium paid on the life policy of the proprietor should be debited to Insurance Premium Account.

Question 4 :
Provision for bad and doubtful debts appearing in the books at the time of dissolution of firm is transferred to :<br>

Question 6 :
Declaration by directors of the company at the time of solvency is called as __________.

Question 7 :
In order to file a suit against a client for non-payment of dues an unregistered firm is required to first :

Question 8 :
In dissolution of partnership, _________ account is created, whereas _________ account is prepared in dissolution of firm.

Question 9 :
Claim of the retiring partner is payable in the following form.

Question 10 :
When balance sheet prepared after the new partnership assets and liabilities are recorded at :

Question 11 :
On dissolution, all assets are transferred to realization account at ________.<br/>

Question 12 :
A and B were partners in a joint venture sharing profits and losses in the proportion of 4/5th and 1/5th respectively. A supplies goods to the value of &#160;50,000 and incurs expenses amounting to 5,400. B supplies goods to the value of 14,000 and his expenses amount to 800, B sells goods at 87,400. B settles his account by bank draft. What will be the profit on venture?

Question 13 :
A partner gave a loan of Rs.20,000 to the firm. At the time of dissolution of the firm the net losses of the firm were 30,000. How much money will the partner get on dissolution?<br/><br/>

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

Question 15 :
Which of these is not a method of accounting treatment of premium on joint life policy?

Question 17 :
Select the most appropriate alternative from those given below:<br>Drawing account is closed by transferring the balance to the ______ account.

Question 18 :
Under section $44$ of the Partnership Act, a firm may be dissolved on happening of certain contingencies like :

Question 19 :
In dissolution of partnership, business ________ whereas in dissolution of firm, the business is ________.

Question 20 :
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 21 :
The amount due to the retiring partner can be made by ________.