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easyMCQCUET Accountancy 2022 15 July Shift 22026Accountancy
1 attempts0% success rate1 mark

All assets (except Cash/Bank and fictitious assets) are transferred to the _______ side of _______ account.

  1. A
    Debit, Realisation
  2. B
    Debit, Capital
  3. C
    Credit, Realisation
  4. D
    Credit, Capital

Solution & Step-by-step Explanation

During the dissolution of a partnership firm, to close asset accounts, they are transferred to the debit side of the Realisation Account at their book values.

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All assets (except Cash/Bank and fictitious assets) are transferred to the _______ side of _______ account.
A
Debit, Realisation
B
Debit, Capital
C
Credit, Realisation
D
Credit, Capital

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PartnershipDissolutionRealisation Account

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