When the unrecorded asset is realized _________________.
Bank a/c is credited
Capital a/c is credited
Realisation a/c is credited
None of the above
The business is not termed in _____________.
Dissoluion of partnership
Dissolution of firm
Both 1 & 2
None of these
Current account is otherwise called _____________.
Capital account
Drawing account
Bank 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
Payment of unreorded liabilities shown at the ___________ side of Realisation A/C.
Debit
Credit
In the absence of payment direction, liability will be paid____________.
In full
In partial
Never paid
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
The amount received from the sale of unrecorded assets.
Debit of Realisation A/C
Credit of Cash A/C
Credit of Realisation A/C
No entry
Dissolution of a firm is _____________.
Partial
Complete
Revised
Under dissolution the liabilities are closed by transferring it to ______________.
Capital a/c
Current a/c
Realisation a/c
