Amount received from sale of unrecorded assets is shown at __________________.
Debit side of Realisation A/C and debit side of cash A/C
Credit side of Realisation A/C and credit side of cash A/C
Credit side of Realisation A/C and debit side of cash A/C
Debit side of Realisation A/C and credit side of cash A/C
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
When the liability paid ____________.
Realisation account is debited
Bank account is debited
Liability account is debited
None of the these
The business is not termed in _____________.
Dissolution of partnership
Dissolution of firm
Both 1 & 2
None of these
Realisation profit or loss is shared by the partners on _______________.
Old ratio or equal ratio
Equal ratio
Capital ratio
None of the above
On dissolution partners capital is transferred to
Current account
Realisation account
Creditors account
On the dissolution of firm, Bills payable are transferred to _________________ .
Realisation A/C
Bank A/C
Cash A/C
Partners capital A/C
Accumulated profit or loss can be transferred to
Realisation a/c
Partners capital a/c
Bank a/c
Employees provident fund is an ________________ .
Asset
Outside liability
Partners Capital
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
