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in Accounts by (64.7k points)

State which of the following statements is True or False:

1.The profit on realization is transferred to solvent partner’s capital accounts only. 

2.Preparation of Memorandum Balance Sheet is compulsory in all cases.

1 Answer

+1 vote
by (58.3k points)
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Best answer

1. False, 

2. False, 

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