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DP
Question Practice

How are assets and liabilities settled during the dissolution of a partnership firm?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Dissolution of Partnership Firm
Question Bank

How are assets and liabilities...

Single Answer MCQ
Q-00002990

How are assets and liabilities settled during the dissolution of a partnership firm?

1

Assets are distributed equally

2

Liabilities are paid by the most senior partner

3

Assets are sold and liabilities are paid off

4

Assets are retained by the retiring partner

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Q1.

What is the meaning of dissolution of partnership firm?

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Q2.

Differentiate between dissolution of partnership and dissolution of partnership firm.

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Q3.

Describe the various modes of dissolution of a partnership firm.

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Q4.

Explain the rules relating to the settlement of claims among all partners during dissolution.

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