Select the most appropriate alternative from those given below :If any

1.	Select the most appropriate alternative from those given below :If any asset is taken over by partner from firm his Capital A/c will be_________.OptionsCreditedDebitedAddedNone of these
Answer» If any asset is taken over by a partner from the firm, then his Capital A/c will be debited. Explanation: When an asset is taken over by a partner, then the Realisation A/c is credited and the Concerned Partner’s Capital A/c is debited with the agreed price at which the asset is taken over by him.

Select the most appropriate alternative from those given below :If any asset is taken over by partner from firm his Capital A/c will be_________.OptionsCreditedDebitedAddedNone of these

Answer»

If any asset is taken over by a partner from the firm, then his Capital A/c will be debited.

Explanation: When an asset is taken over by a partner, then the Realisation A/c is credited and the Concerned Partner’s Capital A/c is debited with the agreed price at which the asset is taken over by him.

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Select the most appropriate alternative from those given below :If any asset is taken over by partner from firm his Capital A/c will be_________.OptionsCreditedDebitedAddedNone of these

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