Realization account is closed by transfer of profit/loss to
A) Cash account
B) Balance sheet
C) Capital accounts
D) Profit and loss account
Correct Answer:
Verified
Q13: Liabilities to third parties are paid -------------
A)First
B)Second
C)Third
D)Lastly
Q14: The ------ has distinguished the 'dissolution of
Q15: Dissolution of a firm leads to
A)Continuing of
Q16: Amount advanced by partner over and above
Q17: The nominal account prepared to close the
Q19: Realization account Dr. To partner's capital a/c;
Q20: Realization account Dr. To asset a/c, this
Q21: Find the odd one
A)Retirement of a partner
B)Death
Q22: -------------- is a situation where in existing
Q23: ---------------- of the Indian Partnership Act, 1932
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