Profit and loss adjustment account is also known as...... - Vidyadip

MCQ

Profit and loss adjustment account is also known as$......$

A
Balance sheet
B
Partners capital account
✓
Revolution account
D
Capital reserve account

✓

Answer

Correct option: C.

Revolution account

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "MCQ" from P1 C4 RECUSTRUCTION OF PARTNERSHIP→P1 C4 RECUSTRUCTION OF PARTNERSHIP — all question types→Elements of Account STD 12 Commerce question papers→Gujarat Board STD 12 Commerce question papers→Gujarat Board question paper generator→

Similar questions

The amount of premium received on issuing debentures at premium is $........$

When new partner brings his share of goodwill in cash, $...........$ account is credited.

Who are the administrators of partnership concerns?

Which account is to be debited when debentures are issued for consideration other than cash?

Cash equivalent has $.........$

In partnership firm every partner is $.......$ for other partner.

Which type of preference shares have right to receive dividend and additional dividend also?

At the time of dissolution, what will be the effect of debit balance of profit and loss A/c?

At what maximum rate of percentage for premium on the face value of shares can be declared by the company on their issue shares ?

At what maximum rate of percentage for premium on the face value of shares can be declared by the company on their issue of shares?