When there is a credit balance brought down on the realisation account, this means that:
A) There is a loss on realisation
B) There is a profit on realisation
C) The company owes the partnership more money
D) The partnership should give money back to the company
Correct Answer:
Verified
Q1: The partners decide to dissolve the partnership.
Q2: The partners decide to dissolve the partnership.
Q3: The partners decide to dissolve the partnership.
Q4: The partners decide to dissolve the partnership.
Q6: The partnership is being dissolved and converted
Q7: A partnership has reported profit for the
Q8: In a partnership the double entry to
Q9: In a partnership the double entry to
Q10: After receipt of all monies on the
Q11: When there is a credit balance carried
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