When a liability is discharged by a partner at the time of dissolution capital account is created because
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yes when a liability is rich charged by a partner at the time of dissolution capital account is
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to close all partner balances and reserves
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When a liability is discharged by a partner at the time of dissolution capital account is created because business is going to close all partner balances and reserves we need to close by opening a Capital Account, by reversing their balances so that final Settlement is made between partners
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