Select the way by which provisions appearing in the Balance Sheet of a partnership firm are closed at the time of firm's dissolution.

Raman and Naman were in partnership sharing profit and losses as 3 : 2. Their partnership firm was dissolved on 31 March 2022. On the date of dissolution, Naman's loan was Rs. 20,000. Naman agreed to take stock (already transferred to Realisation A/c) of Rs. 15,000 at Rs. 18,000 and balance in cash for the settlement of loan. Journal Entry for above transaction is:

According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

On dissolution of a firm, the amount of loan taken from partner by firm will be transferred to

Unrecorded liabilities when paid are shown in:

All assets except cash/bank and fictitious assets are transferred to the Debit side of the ______Account.

According to section ......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.