Download App

Dissolution of Partnership Firm — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyDissolution of Partnership Firm1 Mark
MCQ
When a partner takes over a liability, his Capital Account is _____________
  • A
    debited
  • ✓
    credited
  • C
    deducted
  • D
    none of these
✓

Answer

Correct option: B.
credited
credited

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 "Select the correct option (MCQ)" from Dissolution of Partnership Firm→Dissolution of Partnership Firm — all question types→Book Keeping & Accountancy STD 12 Commerce / Arts question papers→Maharashtra Board STD 12 Commerce / Arts question papers→Maharashtra Board question paper generator→

Similar questions

X and Y are equal partners, admit Z into the partnership. If Z’s share is 1/5th, the new profit sharing ratio of the partners will be ______________
→
The person on whom a bill is drawn is called a ______________
→
Gain ratio is calculated on _____________
→
Both capitalised receipts and capital expenditure are shown in the $.........$
→
Excess of Income over Expenditure is termed as ___________
→
From financial statement analysis the creditors are specially interested to know ____________
→
Credit balance of Profit and Loss Account indicates _____________
→
Non-cash items are not recorded in $.........$
→
Share of profit of a deceased partner till the date of death is _____________
→
Expenditure on Purchase of Building is a ___________ Expenditure.
→