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.
Transactions are recorded or posted to the ledger in line with ...
\(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ ...
The two recognised accounting bases are ...
The document authorising an officer to incur expenditure is known as ...
Given: If Emeka Enterprises settles its suppliers for goods purchased within 7 days, it can earn ...
The branch current account records ...
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock:} & \\ \text{- raw materials} & 6...
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock} & 1,800\\ \text{Closing stock} &am...
Which of the following is a fictitious asset? ...
Which of the following are Personal Accounts? i. wages ii. debtors ii. creditors iv. buildings ...