English

When realisation expenses are paid by a partner on behalf of the firm, ______ A/c will be debited and ______ A/c will be credited.

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Question

When realisation expenses are paid by a partner on behalf of the firm, ______ A/c will be debited and ______ A/c will be credited.

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Solution

When realisation expenses are paid by a partner on behalf of the firm, Realisation A/c will be debited and Partner's Capital A/c will be credited.

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Chapter 5: Dissolution of a Partnership Firm - OBJECTIVE TYPE QUESTIONS [Page 5.99]

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D. K. Goel Accountancy Part A Volume 1 and 2 [English] Class 12
Chapter 5 Dissolution of a Partnership Firm
OBJECTIVE TYPE QUESTIONS | Q (B) 3. | Page 5.99
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