Question : At the time of dissolution of partnership firm, Deferred Revenue Expenditure (Advertisement) Expenditure) is transferred to ________.
Option 1: Capital Account of Partners
Option 2: Realisation Account
Option 3: Cash Account
Option 4: Loan by Partner Account
Correct Answer: Capital Account of Partners
Solution : At the time of dissolution of partnership firm, Deferred Revenue Expenditure (Advertisement) Expenditure) is transferred to It is sent to the capital account of the partner's profit sharing ratio on the debit side.
Hence the correct answer is option 1.
Question : At the time of dissolution of partnership firm, Deferred Revenue Expenditure (Advertisement) Expenditure) is transferred to
Question : At the time of dissolution of partnership firm, fictitious assets are transferred to
Option 1: Capital Accounts of Partners
Option 4: Partners’ Loan Account
Question : At the time of dissolution of the partnership firm, fictitious assets are transferred to :
Option 4: Partners' Loan Account
Question : -----------------account is prepared at the time of dissolution of the partnership while ------------------account is prepared at the time of dissolution of the partnership firm.
Option 1: revaluation account and realisation account
Option 2: realisation account and revaluation account
Option 3: revaluation account and revaluation account
Option 4: Realisation account and realisation account
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile