Loss on realization is:

Related MCQs

• Loss on realization is distributed among partners:
• At the time of dissolution all the assets of firm are transferred to the realization A/c:
• Balance of realization A/c is transferred to the capital A/c of the partners in:
• Profit and loss account is a
• In profit and loss account, if credit is more than the debit, the difference is
• Profit and loss is calculated at the stage of
• Under debtors system which account is prepared by head office to calculate profit or loss of each branch:
• Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system.
• In final account system, Branch Trading and Profit & Loss A/c is prepared at ________
• Under Final A/c system, the profit or loss made by the branch is determined by preparing