menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Introduction to Financial Accounting
  4. Exam
    Exam 28: Partnership Dissolution and Conversion to Company Status
  5. Question
    When There Is a Credit Balance Brought Down on the Realisation
Solved

When There Is a Credit Balance Brought Down on the Realisation

Question 3

Question 3

Multiple Choice

When there is a credit balance brought down on the realisation account, this means that:


A) There is a loss on realisation
B) There is a profit on realisation
C) The company owes the partnership more money
D) The partnership should give money back to the company

Correct Answer:

verifed

Verified

Related Questions

Q1: In a partnership the double entry to

Q2: After receipt of all monies on the

Q4: A partnership has reported profit for the

Q5: What is the main purpose of a

Q6: When there is a credit balance carried

Q7: The partners decide to dissolve the partnership.

Q8: The partners decide to dissolve the partnership.

Q9: The partners decide to dissolve the partnership.

Q10: In a company's statement of financial position

Q11: The partnership is being dissolved and converted

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines