Page 2 - ha diss

(a) Death of a partner

(b) Insolvency of partner
(c) By giving notice
(d) All of the above

06.At the time of dissolution non – cash assets are credited with

(a) Market value
(b) Book value
(c) As the agreed amount among the partners

(d) Cost or market value whichever is low

07. Loss on realization is distributed among partners:
(a) According to profit and loss ratio
(b) According to capital ratio
(c) As decided among them

(d) None of above

08. If no provision is made in agreement regarding the duration of the

partnership

(a) Limited partnership
(b) Partnership at – will
(c) None
(d) Particular partnership

09. Balance of realization A/c is transferred to the capital A/c of the

partners

(a) Capital ratio
(b) Profit sharing ratio
(c) Interest ratio
(d) Equally

10. At the time of dissolution all the assets of firm are transferred to the
realization A/c:
(a) Market value
(b) Book value
(c) Cost value
(d) None of the above