Dissolution of Partnership - MCQs

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 26, 2023

Take a quick Multiple Choice Questions (MCQs) test about Dissolution of Partnership. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the "start quiz" button and start Dissolution of Partnership MCQs quiz.

If you find difficulty in answering these questions, read 'Dissolution of Partnership' chapter thoroughly from explanation section of the website.

1. Retirement and death of a partner:
2. If all the partners, but one are insolvent it is:
3. If all the partners, but one, are solvent it is:
4. At the time of dissolution:
5. At the time of dissolution non-cash assets are credited with:
6. If a partner takes over an asset of the firm, his capital account:
7. If a liability is settled at higher value than shown on the balance sheet and a partner takes the responsibility to pay that:
8. Loss on realization is distributed among partners:
9. Loss on realization is:
10. When all the partners are insolvent accounts payable will be:

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About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.