All assets (except Cash/Bank and fictitious assets) are transferred to the _______ side of _______ account.

At the time of dissolution of a firm, the balance sheet shows creditors - ₹ 50,000; firm's capital - ₹ 1,40,000; cash balance is ₹ 10,000. Other assets realised ₹1,50,000. Gain/Loss in the realisation account will be:

Dissolution of Firm means:

A. Assets are revalued and liabilities are reassessed. New balance sheet is drawn

B. Economic relationships between partners come to an end

C. The business of the firm is closed/terminated

D. The business is not closed/terminated

Choose the correct answer from the options given below:

On dissolution of the firm, Partners' Capital Account are closed through:

Which of the following indicate the situation of compulsory dissolution.

When the business of the partnership firm becomes illegal, it leads to dissolution of the firm under ___________?

X, Y, Z are partners who decided to dissolve their firm. Realisation expenses were to be borne by Y for which he was to be given remuneration of Rs. 10,000. Actual expenses were Rs. 12,000. How much amount will be transferred to Y's Capital A/c for it?