Question : ______ A/C is opened for disposing of all the assets of firm and making payment of all the liabilities.

Option 1: Revaluation

Option 2: Profit and Loss Suspense

Option 3: Realisation

Option 4: Profit and Loss Appropriation

Question : Cash Flow Statement by Indirect Method is prepared on the basis of ___________.

Option 1: Balance sheet

Option 2: Profit and loss account

Option 3: Both 1 and 2

Option 4: None of the above

Question : Cash Flow Statement by Indirect Method is prepared on the basis of ___________.

Option 1: Balance sheet

Option 2: Profit and loss account

Option 3: Both 1 and 2

Option 4: None of the above

Question : -----------------account is prepared at the time of dissolution.

Option 1: profit and loss appropriation account

Option 2: profit and loss adjustment account

Option 3: realisation account

Option 4: profit and loss account

Question : -----------------account is prepared at the time of dissolution.

Option 1: profit and loss appropriation account

Option 2: profit and loss adjustment account

Option 3: realisation account

Option 4: profit and loss account