The business is not termed in _____________.
Dissoluion of partnership
Dissolution of firm
Both 1 & 2
None of these
On dissolution partners capital is transferred to _________________.
Current account
Realisation account
Creditors account
None of the above
Current account is otherwise called _____________.
Capital account
Drawing account
Bank account
Accumulated profit is shared by the partners
On old ratio
New ratio
Sacrificing ratio
Employees welfare fund likely to be claimed is an _________________.
Outside liability
Inside Asset
Partners capital
Payment of unreorded liabilities shown at the ___________ side of Realisation A/C.
Debit
Credit
Realisation A/C and Revaluation A/C are the ______________ A/C.
Same
Different
Under dissolution the liabilities are closed by transferring it to ______________.
Capital a/c
Current a/c
Realisation a/c
Employees provident fund is an ________________ .
Asset
Partners Capital
Realisation loss is _____________.
Credited to capital account
Debited to capital account
Debited to realisation account
