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Class 12 · Accountancy
→On the dissolution of a partnership firm, what is a debit balance in the Realisation Account called?
Class 12 · Accountancy
→On dissolution of a partnership firm, payment of what should be ensured before distributing cash to the partners?
Class 12 · Accountancy
→On dissolution accumulated profits balance is transferred to which account?
Class 12 · Accountancy
→When a partner bears realisation expenses whom will the firm credit?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, an asset with a book value of ₹50,000 is sold for ₹47,000. What result will be recorded in the Realisation Account?
Class 12 · Accountancy
→Realisation profit is ultimately transferred to which account?
Class 12 · Accountancy
→What is the effect on Realisation Account when an unrecorded liability is paid?
Class 12 · Accountancy
→When a bank loan is paid off at the time of dissolution, which account is debited?
Class 12 · Accountancy
→At the time of dissolution, a creditor accepts ₹9,600 in full settlement of a liability of ₹10,000. What gain will the firm earn on this settlement?
Class 12 · Accountancy
→Which item is not transferred to the Realisation Account?
Class 12 · Accountancy
→On dissolution of a partnership firm, external liabilities are paid before whose claims?
Class 12 · Accountancy
→If realisation expenses are paid by the firm where are they recorded?
Class 12 · Accountancy
→At dissolution an unrecorded asset is transferred to which side of Realisation Account?
Class 12 · Accountancy
→On dissolution of a firm which account closing process is initiated first?
Class 12 · Accountancy
→After paying external liabilities, partners’ loans and capital during dissolution, on what basis is the remaining surplus distributed among the partners?
Class 12 · Accountancy
→If a partner pays dissolution expenses on behalf of the firm, to whom will the firm reimburse the amount?
Class 12 · Accountancy
→What is the main objective of settling liabilities at the time of dissolution of a firm?
Class 12 · Accountancy
→On dissolution, when an unrecorded liability is paid, which account is debited with the payment amount?
Class 12 · Accountancy
→When an unrecorded asset is taken over by a partner which side of Realisation Account is credited?
Class 12 · Accountancy
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