Accountancy MCQ Class 12 Chapter 5: Check the below NCERT MCQ Questions for Accountancy MCQ Class 12 Chapter 5 with Answers Pdf free download. Accountancy MCQ Class 12 Chapter 5 Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accountancy MCQ Class 12 Chapter 5 with Answers to help students understand the concept very well.

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Accountancy MCQ Class 12 Chapter 5

1. When the unrecorded assets are taken over by a partner, they are shown in _______.
(a) Debit side of realisation A/c
(b) Debit side of bank A/c
(c) Credit side of realisation A/c
(d) Credit side of bank A/c

2. In the event of dissolution of partnership firm, the provision for doubtful debts is transferred to :
(a) Realisation Account
(b) Partners’ Capital Accounts
(c) Sundry Debtors Account
(d) None of the above

3. On dissolution, Goodwill Account is transferred to ______.
(a) In the capital accounts of partners
(b) On the credit side of the cash account
(c) On the debit side of the realisation account
(d) On the Credit side of the realisation account

4. When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :
(a) Realisation Account
(b) Partners’ Capital Account
(c) Partner’s Loan Account
(d) None of these

5. Realisation account is a ______.
(a) Personal A/c
(b) Nominal A/c
(c) Read A/c
(d) None of the above

6. Which of the following is transferred to Realisation Account ?
(a) Balance of Profit Account
(b) Balance of Profit & Loss Account
(c) Amount realised on sale of assets
(d) Reserves

7. On dissolution, goodwill account is transferred to :
(a) In the Capital Accounts of Partners
(b) In the Credit of Cash Accounts
(c) In the Debit of Realisation Account
(d) In the Credit of Realisation Account

8. If the total assets are Rupees 3,35,000 and the total outside/external liabilities is Rupees 35,000, then the amount of all partner’s capital will be _________.
(a) Rupees 3,70,000
(b) Rupees 2,80,000
(c) Rupees 3,00,000
(d) None of the above

9. At the time of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :
(a) Realisation Account
(b) Creditors’ Account
(c) Partners’ Capital Accounts
(d) Profit & Loss Account

10. A firm can be voluntarily dissolved by the partners ______.
(a) On 3/4 member’s decision
(b) On 1/2 member’s decision
(c) On a majority basis
(d) None of the above

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