When the liability paid ____________.
Realisation account is debited
Bank account is debited
Liability account is debited
None of the these
Current account is otherwise called _____________.
Capital account
Drawing account
Bank account
None of these
On the dissolution of firm, Depreciation fund will be shown at the _________________ side of Realisation Account.
Debit
Credit
Both 1 & 2
Under dissolution the liabilities are closed by transferring it to ______________.
Capital a/c
Current a/c
Realisation a/c
None of the above
Employees provident fund is an ________________ .
Asset
Outside liability
Partners Capital
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 realisation expense paid by a partner____________________.
Partners capital a/c is debited
Partners capital a/c is credited
Realisation a/c is credited
On the dissolution of firm, Bills payable are transferred to _________________ .
Realisation A/C
Bank A/C
Cash A/C
Partners capital A/C
Joint Life policy is an _________________.
Liability
The business is not termed in _____________.
Dissoluion of partnership
Dissolution of firm
