When the liability paid ____________.
Realisation account is debited
Bank account is debited
Liability account is debited
None of the these
Accumulated profit is shared by the partners
On old ratio
New ratio
Sacrificing ratio
None of the above
On dissolution partners capital is transferred to
Current account
Realisation account
Creditors account
Realisation loss is _____________.
Credited to capital account
Debited to capital account
Debited to realisation account
None of these
On the dissolution of firm, Bills payable are transferred to _________________ .
Realisation A/C
Bank A/C
Cash A/C
Partners capital A/C
In the absence of payment direction, liability will be paid____________.
In full
In partial
Never paid
Dissolution by court is
Complete dissolution
Partial dissolution
Dissolution of partnership
When the realisation expense paid by a partner____________________.
Partners capital a/c is debited
Partners capital a/c is credited
Realisation a/c is credited
The business is not termed in _____________.
Dissolution of firm
Both 1 & 2
Realisation A/C and Revaluation A/C are the ______________ A/C.
Same
Different
