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easyMCQCUET Accountancy 2025 24 May Shift 12026Accountancy
1 mark

All assets except cash/bank and fictitious assets are transferred to the Debit side of the ______ Account during dissolution.

  1. A
    Realisation Account
  2. B
    Capital Account
  3. C
    Revaluation Account
  4. D
    Current Account

Solution & Step-by-step Explanation

During the dissolution of a partnership firm, all realizable assets (excluding cash balance, bank balance, and fictitious assets like accumulated losses) are closed by transferring them 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 Debit side of the ______ Account during dissolution.
A
Realisation Account
B
Capital Account
C
Revaluation Account
D
Current Account

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