Which of the Following Is the Journal Entry Recorded on Realisation

question 21

Multiple Choice

Which of the following is the journal entry recorded on realisation of the assets by the liquidator?

• A) Dr Liquidator's receipts and payments Cr Liquidation
• B) Dr Liquidation Cr Liquidator's receipts and payments
• C) Dr Liquidator's receipts and payments Cr Revenue from sale of assets
• D) Dr Shareholders' distribution Cr Liquidator's receipts and payments

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Definitions:

Nonresident Defendant

A defendant in a legal case who does not reside in the jurisdiction where the case is filed.

Spurious Correlation

A relationship between two variables that appears to have a correlation but is actually caused by a third variable, leading to misleading statistical conclusions.

Causal Explanation

The reasoning or justification that establishes a cause-and-effect relationship between events or actions.

Dubious Hypothesis

A speculative or uncertain theory that may lack substantial evidence or credibility.