At the time of dissolution all the assets of firm are transferred to the realization A/c:

Related MCQs

• At the time of dissolution non – cash assets are credited with:
• Balance of realization A/c is transferred to the capital A/c of the partners in:
• Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be
• At the time of dissolution:
• If the firm stops making repayments and the goods or assets are taken away from them as a result, this is known as:
• Loss on realization is distributed among partners:
• Loss on realization is:
• Ownership of goods under hire purchase agreement is transferred at the time of:
• At the time of admission of a new partner the firm is:
• The profit included in surplus or shortage of stock is transferred to ______ account