On the dissolution of firm, Bills payable are transferred to _________________ .
Realisation A/C
Bank A/C
Cash A/C
Partners capital A/C
Dissolution by court is ______________.
Complete dissolution
Partial dissolution
Dissolution of partnership
None of the above
Accumulated profit or loss can be transferred to _______________.
Realisation a/c
Partners capital a/c
Bank a/c
Realisation is a _______________ Account.
Nominal
Real
Personal
None of these
Realisation A/C and Revaluation A/C are the ______________ A/C.
Same
Different
Both 1 & 2
Under dissolution the liabilities are closed by transferring it to ______________.
Capital a/c
Current a/c
Realisation loss is _____________.
Credited to capital account
Debited to capital account
Debited to realisation account
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 expenses are also known as ___________.
Dissolution
Reconstitution
Reorganisation
When the unrecorded asset is realized _________________.
Bank a/c is credited
Capital a/c is credited
Realisation a/c is credited
