Identify the Dissolution by agreement.
The partner of the firm may voluntarily agree for the dissolution of the firm at any time
When the citizen of the enemy is the partner of the firm
Incase of partnership at will, any partner may ask for the dissolution of the firm by serving notice and the firm will be dissolved
None of these
On the dissolution of a firm, investment fluctuation fund will be transferred at the credit side of _________________ A/C.
Realisation A/C
Partners Loan A/C
Bank A/C
__________is a document which contains the important terms and conditions of partnership as agreed by the partners.
Company
Capital
Partnership deed
Liability
In case of ___________all business operations stop and the firm ceases to exist in its name and style
Dissolution of the firm
Dissolution of the partnership
Death of partners
Retirement of partner
On the Dissolution of a firm, if partner's loan A/C appears at the liabilities side of the balance sheet, It is shown on _________________ side of partners loan A/C.
Debit
Credit
Both A & B
In fixed capital method, all the adjustments other than capital are recorded through
Capital account
Current account or drawing account
Profit and loss
None of the above
When all partner or except one partner is declared insolvent is ____________________ type of dissolution.
Dissolution By agreement
Compulsary Dissolution
Dissolution by notice
Dissolution by court
Profit up to the date of retirement or death is to be calculated ________________.
On the basis of average profit
On the basis of previous year profit
On the basis of current year profit
Provision for Bad and Doubtful Debt are shown at the credit side of _________________ A/C.
Debtors A/C
Assets A/C
Partner's current A/C appearing at the liabilities side should be transferred to the ____________________ side of capital Account.
