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Cash receipts which are recurring in nature are called as__________ Receipts.
Concept: Partnership Final Accounts
Trading Account is prepared on the basis of ______ expenses.
Concept: Partnership Final Accounts
Current account always shows a debit balance.
Concept: Partnership Final Accounts
Answer in one sentence only.
What is revaluation account?
Concept: Admission of Partner> Revaluation of Assets and Liabilities
Answer in one sentence only.
What is revaluation account?
Concept: Admission of Partner> Revaluation of Assets and Liabilities
If the asset is taken over by the partner ______ account is debited.
Concept: Admission of Partner> Revaluation of Assets and Liabilities
If the asset is taken over by the partner ______ account is debited.
Concept: Admission of Partner> Revaluation of Assets and Liabilities
Write a word/phrase/term which can substitute the following statement.
Reputation of business measured in terms of money.
Concept: Methods of Valuation of Goodwill
Find the Odd one.
Concept: Admission of Partner> Revaluation of Assets and Liabilities
Find the Odd one.
Concept: Admission of Partner> Revaluation of Assets and Liabilities
Dissolution expenses are credited to ______.
Concept: Concept of Dissolution of Partnership Firm
If an asset is taken over by partner from firm his capital account will be ___________.
Concept: Concept of Dissolution of Partnership Firm
Assets and liabilities are transferred to Realisation Account at their ______ value.
Concept: Concept of Dissolution of Partnership Firm
Give the word/term/phrase which can substitute the following statement.
Winding up of partnership business.
Concept: Concept of Dissolution of Partnership Firm
Answer in one sentence only.
Who is called insolvent person?
Concept: Concept of Dissolution of Partnership Firm
State whether the following statement is True or False.
On dissolution Cash or Bank Account is closed automatically.
Concept: Concept of Dissolution of Partnership Firm
Write the word/phrase/term/ which can substitute the following statement.
Expenses incurred on dissolution of firm.
Concept: Concept of Dissolution of Partnership Firm
Do you agree or disagree with the following statement:
On dissolution, cash/bank account is closed automatically.
Concept: Concept of Dissolution of Partnership Firm
Give word / term or phrase for the following statement.
Excess of income over expenditure of a ‘not for profit’ concern.
Concept: Concept of Non-Profit Concerns
Answer the following question in only ‘one’ sentence.
What is ‘entrance fees’?
Concept: Additional Information - Capitalisation of Entrance Fees
