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easyMCQCUET Accountancy 2025 30 May Shift 12026Accountancy
1 mark

All assets (except cash/bank and fictitious assets) are transferred to the__________ side of __________Account.

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

Solution & Step-by-step Explanation

The introductory step in closing accounts upon partnership firm dissolution involves transferring the book value of all tangible/intangible assets (excluding cash, bank balances, and fictitious assets) over to the Debit side of the Realization Account.

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All assets (except cash/bank and fictitious assets) are transferred to the__________ side of __________Account.
A
Debit/Capital
B
Credit/Capital
C
Realisation/Capital
D
Debit/Realization

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