Question

When the Reserve Fund is distributed to old partners, the _ _ _ _ _ account is debited.

1.capital
2.current
3.Reserve Fund
4.Profit and Loss

please give me answer fast 12 th commerce please don't give wrong answer..​

Answer 1

Answer:

Right answer is option no. 2

Explanation:

Current

Answer 2

When the Reserve Fund is distributed to old partners , the__________ account is debited .c) Reserve fund

c) Reserve fund -

A reserve fund is a financial monetary financial savings account or specific as an alternative liquid asset set apart through way of technique of an man or woman or corporation to satisfy any destiny prices or monetary obligations, in particular the ones bobbing up unexpectedly.

If the fund is installation to satisfy the prices of scheduled upgrades, a outstanding deal plenty much less liquid belongings can be used.

Explanation for incorrect:

1.capital-Capital is a extensive time period which could describe any component that confers cost or gain to its owner, which include a manufacturing facility and its machinery, highbrow assets like patents, or the economic property of a enterprise or an individual.

2.current-Current property are all of the property of a employer which might be predicted to be bought or used because of fashionable commercial enterprise operations over the following year.

Current property encompass coins, coins equivalents, bills receivable, inventory inventory, marketable securities, pre-paid liabilities, and different liquid property.

4.Profit and Loss- The time period income and loss (P&L) declaration refers to a monetary declaration that summarizes the revenues, costs, and fees incurred for the duration of a targeted period, typically 1 / 4 or economic year .