Dissolution of a firm leads to
A) Continuing of business with the remaining partners
B) Closure of business
C) Merger with another firm
D) None of these
Correct Answer:
Verified
Q10: If a partner takes over some assets
Q11: In the case of dissolution of the
Q12: A partnership which can be dissolved at
Q13: Liabilities to third parties are paid -------------
A)First
B)Second
C)Third
D)Lastly
Q14: The ------ has distinguished the 'dissolution of
Q16: Amount advanced by partner over and above
Q17: The nominal account prepared to close the
Q18: Realization account is closed by transfer of
Q19: Realization account Dr. To partner's capital a/c;
Q20: Realization account Dr. To asset a/c, this
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