Basic Level Chapter Connectivity Test – R. No.

5(4CC)
Date: ____________ Class: 12th Subject: Accountancy Chapter No. 6
Ch. Name: Dissolution of Partnership Firm Teacher Name: Mr. Gagan Gupta
Time of Test: 15 Min. M.M. 10
General Instructions:
1. This question paper consists of 3 parts.
2. Part-I is for assessing Reading skills for Special students only based on a given Passage.
3. Part-II is Dictation test for Assessing dictation for correct spelling and meaning. It consists of writing:
o Ten words for correct spellings & their meanings.
4. Part-III for assessing subject tools and concepts.
o Five questions on basis of previous concept knowledge.

Part-I (Reading Test for Special Students Only)

Q.1. Read Passage Pg. No. 1 and 2 of Ch-6 Dissolution of partnership firm
Meaning of Dissolution of partnership firm – Dissolution of the firm means dissolution of partnership among all
the partners in the firm.
Types of Dissolution of a firm – The Indian Partnership Act 1932 state ways of dissolution of a partnership
firm. A partnership firm stand dissolved in the following ways:-
(a) Dissolution by Agreement (Section 40)
(b) Compulsory dissolution (Section 41)
(c) Dissolution upon contingency, if the partnership deed so provide. (Section 42)
(d) Dissolution by notice (Section 43)
(e) Dissolution by order of court (Section 44)
Realisation Account – It is opened on dissolution of firm to close down the book of accounts of the firm. This
account is to show the profit or loss on realisation of assets and payment of liabilities.
Treatment of goodwill – In case of dissolution of a firm goodwill should be treated just like other assets, if can
be assumed that the goodwill in values less and as such, nothing is received or realized from it.
Treatment of Realisation expenses – Process of dissolution of a firm in some expenses which are known as
realisation or dissolution expenses or liquidation expenses. Normally it is paid by the firm but a partner may
bear these expenses in hev of commission / remuneration.

Part-II (Dictation of difficult words & their meanings Test)

Q.2. Write down correct spelling of Dictated words/terms: (½x10=5 Marks)
i) Goodwill
ii) Realiastion
iii) Dissolution
iv) Ratio
v) Adjustments
vi) IFR
vii) Partner
viii) Reserve
ix) Settlement
x) Bear

Part-III (Subject tools Test-Signs, symbols, formulas, diagrams & other tools)
Q.3. Answer the following questions on basis of concept studied in previous classes: (1×5=5 Marks)
1. What is the meaning of partnership?
2. What is meant by Realisation account?
3. Distinguish between Dissolution firm and partnership?
4. Define meaning of firm debt and private debt?
5. What are the conditions of reconstitute the firm? Write any two.