Question : When the unrecorded asset is taken by partners, it is debited to --------------------and credited to----------------------.

Option 1: concerned partners' capital account and cash Account

Option 2: concerned partners' capital account and Realization account

Option 3: realization account and partners capital account

Option 4: none of the above

Question : When a partner pays unrecorded liability is --------------------debited and concerned ------------------------is credited.

Option 1: Realization account debited, concerned partner's capital account

Option 2: Concerned partner's capital, realization account

Option 3: Unrecorded liability debited, cash account 

Option 4: None of the above.

Question : When unrecorded liability is paid, ------------------is debited and ----------------Account is credited with the amount paid, it being in the nature of-------------------.

Option 1: liability, cash, profit

Option 2: Realization, cash, loss

Option 3: Realization, partner's capital account, loss

Option 4: None of the above

Question : When unrecorded liability is paid, ------------------is debited and ----------------Account is credited with the amount paid, it being in the nature of-------------------.

Option 1: liability, cash, profit

Option 2: Realization, cash, loss

Option 3: Realization, partner's capital account, loss

Option 4: None of the above

Question : If at the time of admission if there is some unrecorded Assets, it will be _________ to _______ Account. 

Option 1: Credited, Revaluation 

Option 2: Debited, Partners' Capital Account 

Option 3: Credited, Partners' Capital 

Option 4: None of the above