Quizz

Quizz

12th Grade

15 Qs

quiz-placeholder

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Quizz

Quizz

Assessment

Quiz

Arts, Professional Development

12th Grade

Medium

Created by

nirvair nanda

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Partner loan in liability side of balance sheet

This loan paid by firm

Capital dr

Realisation dr

Partner loan dr

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When machine sold

Bank account will be

Credit

Debit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Stock is taken over by partner

Capital account will be

Debited

Credit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When bank loan is taken over by partner

Capital account will

Debited

Credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Creditors paid

Realisation will

Debit

Credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Investment sold

Realisation account will

Debit

Credit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

General reserve will transfer to realisation account

Correct

Incorrect

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