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 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 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 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 : Choose the correct Journal entry with respect to loan by Amit (Partner) for the following cases at the time of the firm's dissolution:
The loan by Amit (Partner) is Rs. 50,000 and the Balance in his Capital Account
(credit) is Rs. 25,000.

Option 1: debited partner's loan account and credited partner's capital account with Rs 25,000

Option 2: debited realization account and credited Banka account Rs 25,000

Option 3: Debited partner's loan account and credited bank account with Rs 25,000

Option 4: None of the above