Realisation loss is _____________.
Credited to capital account
Debited to capital account
Debited to realisation account
None of these
Current account is otherwise called _____________.
Capital account
Drawing account
Bank account
Realisation expenses are also known as ___________.
Dissolution
Reconstitution
Reorganisation
Dissolution by court is ______________.
Complete dissolution
Partial dissolution
Dissolution of partnership
None of the above
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
On the dissolution of firm, Depreciation fund will be shown at the _________________ side of Realisation Account.
Debit
Credit
Both 1 & 2
Realisation A/C and Revaluation A/C are the ______________ A/C.
Same
Different
Accumulated profit is shared by the partners
On old ratio
New ratio
Sacrificing ratio
When the unrecorded asset is realized _________________.
Bank a/c is credited
Capital a/c is credited
Realisation a/c is credited
On dissolution partners capital is transferred to _________________.
Current account
Realisation account
Creditors account
