Select the most appropriate alternative from those given below and rewrite the sentence.

1) In case of dissolution, assets and liabilities are transferred to ___________ Account.
a) Bank Account
b) Partner’s Capital Account
c) Realisation Account
d) Partner’s Current Account
Ans:-c) Realisation

2) Dissolution expenses are credited to___________ Account.
a) Realisation Account
b) Cash / Bank Account
c) Partner’s Capital Account
d) Partner’s Loan Account
Ans:-b) Cash/Bank Account

3) Deficiency of insolvent partner will be suffered by solvent partners in their_____________ ratio.
a)  Capital ratio
b) Profit-sharing ratio
c) Sale ratio
d)Liquidity ratio
Ans:-b) Profit-sharing ratio

4) If an asset is taken over by partner from firm his capital account will be ___________
a) Credited
b) Debited
c) Added
d) Divided
Ans:-b) Debited

5) If any unrecorded liability is paid on the dissolution of the firm _______ account is debited.
a)  Cash / Bank Account
b) Realisation Account
c) Partners’ capital Account
d) Loan Account
An:-b)Realisation Account

6) Partnership is completely dissolved when the partners of the firm become _________
a) Solvent
b) Insolvent
c) Creditor
d) Debtors
Ans:-b)  Insolvent

7) Assets and liabilities are transferred to Realisation account at their ____________ values.
a) Market
b) Purchases
c) Sale
d) Book

8) If the number of partners in a firm falls below two, the firm stands____________
a) Dissolved
b) Established
c) Realisation
d) Restructured

9) Realisation account is _____________ on realisation of assets.
a) Debited
b) Credited
c) Deducted
d) Closed

10) All activities of partnership firm cease on _________ of firm.
a) Dissolution
b) Admission
c) Retirement
d) Death