If there is a loss prior to incorporation, it will be debited to

Related MCQs

• Director's salary is divided between prior period and post incorporation period in
• Profit of post-incorporation period is called
• The profit earned from the date of purchase till incorporation is considered as
• When shares are Forfeited, then the amount called up on Forfeited shares is debited to
• Before distributing cash amongst partners whatever profit or loss and reserves as per the balance sheet
• If there is Debit balance of any one partner's capital account the same will be distributed amongst the remaining partners