Page 6 - ha diss

25. What is the nature of Revaluation account?

(a) Personal Account

(b) Real Account

(c) Nominal Account

(d) None of the above

26. Realisation Account is opened at time of

a) Admission of a partner

b) Retirement of a Partner

c) Death of a Partner

d) Dissolution of the firm

27. Revaluation account is opened at the time of

a) Admission of a partner

b) Retirement of a Partner
c) Death of a Partner

d) All the above

28. Frequency of opening realisation account is:

a) Only Once

b) Few
c) Most of the times

d) All the above

29. Hanif and Jubed were partners in a firm sharing profits in the ratio of their
capitals. On 31st March, 2013 their balance sheet was as follows