In the context of relational databases, when we create a relationship between tables, the common fields used are known as Key fields. Key fields, especially primary keys and foreign keys, play a crucial role in ensuring data integrity and establishing connections between two or more tables.
Here's a brief explanation:
Effective use of key fields is essential for creating a robust database structure, as they help maintain referential integrity by ensuring that relationships between tables remain consistent.
In a relational database system, key fields are used to establish and identify relationships between different tables. These fields uniquely identify records in a table, and their commonality in two tables forms the basis of the relationship between them.
Thus, the correct answer is: Key fields
When realisation expenses are paid by a partner on behalf of the firm, what is the journal entry made?
Read the following information carefully and answer the next five questions :
G, K and B were partners running a partnership for last 10 years, sharing profit and loss in the ratio of 5 : 3 : 2. Post Covid, their firm was affected badly and started incurring losses. On 31st March, 2023 they all decided to dissolve the firm due to continuous losses. Their capital balances were ₹ 4,00,000, ₹ 3,00,000 and ₹ 2,00,000 respectively. Firm had liabilities ₹ 80,000, Cash balance ₹ 40,000, other Sundry Assets ₹ 8,50,000 and P&L A/c constituted the rest. Assets realised at 80% and liabilities were paid in full. There was unrecorded liability of ₹ 50,000 which was settled at ₹ 40,000. Realisation expenses amounted to ₹ 30,000, being paid by G on behalf of the firm.