Dissolution of Partnership Firm: Class 12 Accountancy (MP Board) important questions and practice
Dissolution of Partnership Firm is chapter 4 of 10 in MP Board Class 12 Accountancy. Below are the topics the paper draws from, the question types that come up again and again, and a free practice test on this chapter alone.
Topics in this chapter
- Dissolution of partnership versus dissolution of firm
- Settlement of accounts under Section 48 of the Partnership Act
- Realisation Account: transfer of assets and liabilities, sale of assets, payment of liabilities
- Treatment of unrecorded assets and liabilities, realisation expenses
- Partners' capital accounts and closing the bank account
- Partner's loan and partner taking over assets or liabilities
What examiners usually ask
- Pass journal entries on dissolution when a partner agreed to pay off a creditor of Rs 20,000 for Rs 18,000
- Prepare the Realisation Account, partners' capital accounts and bank account from the given Balance Sheet on dissolution
- Distinguish between Realisation Account and Revaluation Account
Exam tip
Transfer all assets except cash, bank and fictitious assets to the Realisation Account, and never transfer partner's loan or accumulated profits to it; the final bank account must tally, which is the quickest self-check.
Dissolution of Partnership Firm on other boards and exams
Frequently asked questions
What are the important questions from Dissolution of Partnership Firm for MP Board Class 12?
The question types listed above repeat most often in MP Board Class 12 Accountancy papers for this chapter. Practise them with the chapter test and then attempt them inside a full previous-year paper under time.
Is Dissolution of Partnership Firm in the MP Board Class 12 Accountancy syllabus?
Yes. Dissolution of Partnership Firm is part of the current MP Board Class 12 Accountancy syllabus, as listed on this site from the prescribed textbook.
Can I practise Dissolution of Partnership Firm MCQs in Hindi?
Yes. The chapter test and explanations are available in Hindi and English, with an AI doubt solver for any question.