When partners capital account is settled ______________.
Capital account is credited
Capital account is debited
Bank account is debited
None of the above
When one of the partners has become of unsound mind is the ___________________ type of dissolution.
Dissolution by agreement
Compulsory dissolution
Dissolution by notice
Dissolution by court
Realisation loss is _____________.
Credited to capital account
Debited to capital account
Debited to realisation account
None of these
Payment of unrecorded liabilities shown at the ___________ side of Realisation A/C.
Debit
Credit
Both 1 & 2
Under dissolution the liabilities are closed by transferring it to
Capital a/c
Current a/c
Realisation a/c
Accumulated profit or loss can be transferred to
Partners capital a/c
Bank a/c
Current account is otherwise called
Capital account
Drawing account
Bank account
While preparing cash A/C ______________ side will records all payments.
Partners loan Accounts may transferred to _________________ A/C.
Revaluation A/C
Realisation A/C
Profit & Loss A/C
Accumulated profit is shared by the partners
On old ratio
New ratio
Sacrificing ratio
