On the dissolution of firm, Depreciation fund will be shown at the _________________ side of Realisation Account.
Debit
Credit
Both 1 & 2
None of these
On the dissolution of firm, Bills payable are transferred to _________________ .
Realisation A/C
Bank A/C
Cash A/C
Partners capital A/C
Accumulated profit is shared by the partners
On old ratio
New ratio
Sacrificing ratio
None of the above
Under dissolution the liabilities are closed by transferring it to ______________.
Capital a/c
Current a/c
Realisation a/c
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
Dissolution of a firm is _____________.
Partial
Complete
Revised
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
Accumulated profit or loss can be transferred to _______________.
Partners capital a/c
Bank a/c
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