Question : If there is a profit and loss account balance in the books at the time of admittance, it will be moved to -

Option 1: Profit & Loss Adjustment Account

Option 2: Old partners’ Capital Accounts

Option 3: Revaluation Account

Option 4: All partners’ Capital Accounts

Question : At the time of dissolution partner's loan (cr balance ) account is transferred to:

Option 1: Profit & Loss Account

Option 2: Balance Sheet

Option 3: Capital Accounts of Partners

Option 4: Cash and Bank account

Question : At the time of dissolution partner's loan (cr balance ) account is transferred to:

Option 1: Profit & Loss Account

Option 2: Balance Sheet

Option 3: Capital Accounts of Partners

Option 4: Cash and Bank account

Question : On dissolution, the final balance of capital accounts are transferred to

Option 1: Realisation Account

Option 2: Cash Account

Option 3: Profit & Loss Account

Option 4: Loan Accounts of Partners

Question : At the time of admission of a partner, the balance of the Investments Fluctuation
Reserve, after meeting the loss on revaluation of investments is transferred to _____________of __________in their_____________.

Option 1: All partners capital account and in their new profit sharing ratio

Option 2: Old partners capital account and in their sacrificing ratio

Option 3: Old partners capital account and in their old profit sharing ratio

Option 4: Only sacrificing partners capital account and their sacrificing ratio

Question : At the time of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :

Option 1: Creditor’s Account

Option 2: Realisation Account

Option 3: Partner’s Capital Account

Option 4: Profit & Loss Account