Accounting - Study Mode
[#2606] Unrecorded liability, when paid by a firm on its dissolution is debited to:
Correct Answer
(C) Realisation Account
[#2607] Purchase of goods for cash-
Correct Answer
(D) Will not affect the current ratio
[#2608] Collection from debtors
Correct Answer
(C) Has no effect on current ratio
[#2609] Rate of commission payble on issue of share should not exceed
Correct Answer
(D) 5%
[#2610] In case of a firm's dissoultion, the capital accounts are finally closed by
Correct Answer
(C) Cash or Bank Account