Employees welfare fund likely to be claimed is an
Outside liability
Inside Asset
Partners capital
None of these
Under dissolution the liabilities are closed by transferring it to
Capital a/c
Current a/c
Realisation a/c
None of the above
When partners capital account is settled ______________.
Capital account is credited
Capital account is debited
Bank account is debited
Current account is otherwise called
Capital account
Drawing account
Bank account
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
Realisation profit or loss is shared by the partners on _______________.
Old ratio or equal ratio
Equal ratio
Capital ratio
Dissolution of a firm is
Partial
Complete
Revised
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
Partners loan Accounts may transferred to _________________ A/C.
Revaluation A/C
Realisation A/C
Profit & Loss A/C
Partner's Current Account appearing in the Balance sheet will be transferred to the _______________ Account.
Partner Capital A/C
Bank A/C