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Class 12 Accountancy Reconstitution - Retirement or Death of a Partner Partner's Loan AccountEasy

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What does the balance left after payment in a retiring partner's loan account show?

Answer and explanation

Correct answer: Amount still payable

The remaining credit balance after payment is still payable. Exam tip: treat the remaining balance as a liability in the balance sheet.

Related tags

Balance Payment Liability Partner's Loan Account Partner S Loan Account Reconstitution Retirement Or Death Of A Partner Accountancy Class 12 Mcq

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