Multiple Choice
In a partnership the double entry to record initial realisation expenses not paid is as follows:
A) Dr. Bank account Cr. Realisation account
B) Dr. Partners capital accounts in their profit sharing ratio Cr. Realisation account
C) Dr. Realisation account Cr. Accruals
D) Dr. Realisation account Cr. Bank account
Correct Answer:
Verified
Correct Answer:
Verified
Q2: After receipt of all monies on the
Q3: When there is a credit balance brought
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