The Accounting term used to describe a partnership firm t...
The Accounting term used to describe a partnership firm that stops operation and disposes its assets is
Amortization
Revaluation
Realization
Dissolution
Correct answer is D
Dissolution of partnership is the process whereby a partnership is automatically dissolved or brought to an end by the happenings of any event which makes it unlawful to carry on the business.
\(\begin{array}{c|c} & N\\ \hline \text{Land and building} & 20,000\\ Stock & 5,000\\ \t...
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Sales--------------- 120,000 Purchase-----------100,000 Opening stock-----10,000 Closing stock---...
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Which of the following is not one of the uses of a journal proper? To record ...