When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to:

Arrange how the losses, including deficiencies of capital, shall be paid in the correct sequence :

(A) Out of profits

(B) Out of capital of partners

(C) In their profit sharing ratio (Individually by partners)

Choose the correct answer from the options given below:

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:

Which item among the following is NOT listed on the credit side of a Realization Account?

At the suit of a partner, the court may order a partnership firm to be dissolved on the following grounds :

A. When a partner becomes insane.

B. When a partner becomes permanently incapable of performing his duties as a partner.

C. When a partner is guilty of misconduct which is likely to adversely affect the business of the firm.

D. When a partner persistently commits breach of partnership agreement.

Choose the correct answer from the options given below:

As per Section 48 of the Partnership Act 1932, which of the following will be utilized for payment of losses, including deficiencies of capital:

(A) Out of Profits

(B) Out of capital of Partners

(C) By partners individually in their profit sharing ratio

(D) Creditors Assets

Choose the correct answer from the options given below:

For taking over investment, Bharat's capital will be