When there is a credit balance carried 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
Q4: The partners decide to dissolve the partnership.
Q5: When there is a credit balance brought
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
Q12: In the books of the partnership, how
Q13: What is the main purpose of a
Q14: In a company's statement of financial position
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