Question

True False.
1. No item of Capital nature is recorded in Income and Expenditure Account.
2. The change in the Profit Sharing Ratio of existing Partners leads to
the Reconstitution of Partnership Firm.
9. There is no difference between The Dissolution of Firm and
dissolution of Partnership.
4. Securities Premium is a Capital Profit.
5. Decrease in Gross profit
Ratio is the indication of increase in Cost of
Production.​

Answer 1

Answer:

1. true
2. true
3. false
4. true
5. false