If the firm stops making repayments and the goods or assets are taken away from them as a result, this is known as:

Related MCQs

• 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
• If the hire vendor may take away all the goods on which there is default of installment it is called____________
• The hire vendor takes away only a portion of the goods on which there is default of Installments it is called _________
• At the time of dissolution all the assets of firm are transferred to the realization A/c:
• Mr. X sold goods to Mr. Y ask Mr. X to keep the goods with him for some time
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• The difference between goods sent by H.O. and received by branch is known as _______
• In income measurement & recognisation of assets & liabilities which of the following concepts goes together?
• Fixed assets are held by business for _____
• At the time of dissolution non – cash assets are credited with: