When a firm is dissolved, profit or loss on realization is shared by t

1.	When a firm is dissolved, profit or loss on realization is shared by the partners .a) in the profit sharing ratio. b) equally c) In the ratio of their capital balances d) None of the above.
Answer» Answer: in profit sharing ratio Explanation: Realisation LOSS is transferred to Capital ACCOUNT. 2. The cash available in the firm and RECEIVED from private estate of the partners is paid to Creditors, after meeting the realisation EXPENSES, if any. The UNPAID balance will be transferred to Deficiency Account.

When a firm is dissolved, profit or loss on realization is shared by the partners .a) in the profit sharing ratio. b) equally c) In the ratio of their capital balances d) None of the above.

Answer»

Answer:

in profit sharing ratio

Explanation:

Realisation LOSS is transferred to Capital ACCOUNT. 2. The cash available in the firm and RECEIVED from private estate of the partners is paid to Creditors, after meeting the realisation EXPENSES, if any. The UNPAID balance will be transferred to Deficiency Account.

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When a firm is dissolved, profit or loss on realization is shared by the partners .a) in the profit sharing ratio. b) equally c) In the ratio of their capital balances d) None of the above.​

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When a firm is dissolved, profit or loss on realization is shared by the partners .a) in the profit sharing ratio. b) equally c) In the ratio of their capital balances d) None of the above.