Profit and Loss Suspense Account is debited at the time of death of partner _____

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Shift 12/06/2023 3:30 PM - 6:30 PM

for the share of loss from the date of last Balance Sheet till the date of death of partner.

for the share of profit from the date of last Balance Sheet till the date of death of partner

for the share of loss from the date of death of partner till the closing of the year of death

for the share of profit from the date of death of partner till the closing of the year of death

Correct Answer

for the share of profit from the date of last Balance Sheet till the date of death of partner

NOTE* AS PER NTA THE ANSWER TO THIS QUESTION IS (2).

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Balance in 'Call in Advance' account is shown as a separate item under the sub head _____ in company's Balance Sheet.