When an unrecorded asset is taken over by one of the partners, his capital account is ----------------

Related MCQs

• When a fixed asset is destroyed ,the loss of such asset on the date of fire can be ascertained from
• When a liability is assumed by a partner his capital account is ----------
• Realization account Dr. To asset a/c, this entry is written
• Investment account is ………………………. Account
• ………… account is real account
• Realization account is a ---------- account
• The account opened to close the various assets and liabilities of the firm on dissolution is called ------------- account
• The nominal account prepared to close the account of business is --------------
• Loss of realization is borne by the partners in their ------ ratio
• In the event of dissolution of firm the partners personal assets are first used for payment of -------------- liabilities