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Question
Matching Question:
On dissolution of a partnership firm:
| (i) | Assets of the firm will be used | (a) | At first, for payment of firm's liabilities |
| (ii) | Dissolution of firm | (b) | Revaluation Account |
| (iii) | Change in Profit Sharing Ratio | (c) | At first, for payment of personal loan |
| (iv) | Personal Assets of a Partner will be used | (d) | Realisation Account |
Match the Columns
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Solution
| (i) | Assets of the firm will be used | (a) | At first, for payment of firm's liabilities |
| (ii) | Dissolution of firm | (d) | Realisation Account |
| (iii) | Change in Profit Sharing Ratio | (b) | Revaluation Account |
| (iv) | Personal Assets of a Partner will be used | (c) | At first, for payment of personal loan |
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