Question

Quesnon no. 15 is compulsory
Fill in the blanks with appropriate words: (Each question carries 01 mark)
1. Receipts and Payments Account is of the year's
2. Rent paid to a partner for the use of his building by the firm is also a
profit and not
an
Out of profit.
3. Losses including deficiencies of capital shall be paid firstly
then
4. If the Capitalized value of business less net tangible assets is zero or negative, there will
be_
5. Only excess of
property over private debt can be used towards payment of​

Answer 1

Answer:

losses including deficiencies of capital shall be paid firstl

Answer 2

Explanation:

losses including shall we paid first