Financial and Management Accounting

1: Which of the following statements is not correct?
A.

Realisation A/c is a real account

B.
A partnership firm is not dissolved on the death of a partner
C.
On dissolution of the partnership, the share of the outgoing partner is determined and the firm is not closed.
D.
Before Garner vs. Murray decision, no distinction was made between trading and capital loss.
 

Answer : A

Explanation :

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Option: A

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