Dissolution of a Firm: Chapter Test (CBSE Class 12)
Chapter test on Dissolution of a Firm for CBSE Class 12: realisation account, partner's loan, unrecorded items, WCR, settlement of accounts and journal entries.
Last updated October 2026
English
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Access this test package with 1 full-length mock tests (1 free tests included)
Test series content
1 tests•30 total questions•1 free tests
Dissolution of a Firm: Chapter Test
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What you'll master
Pass the correct entries to prepare the Realisation Account
Treat realisation expenses and WCR claims in every case
Handle partner's loan, unrecorded assets and unrecorded liabilities
Work out realisation profit or loss and the final payment to each partner
Learn from a written explanation for every answer
Description
Dissolution of a Firm: Chapter Test (CBSE Class 12)
A complete chapter test on Dissolution of a Firm for CBSE Class 12 Accountancy. One test, 30 questions, 2 marks each (total 60 marks), no negative marking, and an explanation for every answer.
What's covered
- Meaning of dissolution and the purpose of the Realisation Account
- Transfer of assets and liabilities to Realisation A/c
- Realisation expenses: paid by the firm, by a partner, or borne by a partner
- Workmen Compensation Reserve: claim less than, equal to and more than WCR
- Partner's loan: less accepted, asset taken in settlement
- Unrecorded assets, liabilities and goodwill
- Order of settlement and the final Bank A/c balance
- Realisation profit or loss and amounts finally paid to partners
Who it's for
- CBSE Class 12 Commerce students revising dissolution of a firm
- Students who want practice on realisation account entries and numericals
Key highlights
- 30 questions on the whole chapter
- Concept, numerical and entry-based questions
- Explanations for every answer
- Free for everyone
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