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mediumMCQCUET Accountancy 2022 15 July Shift 22026Accountancy
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Identify the item credited to Realisation Account in the event of dissolution of a partnership firm.

  1. A
    Provision for doubtful debts
  2. B
    Gross value of debtors
  3. C
    Realisation expenses
  4. D
    Payment of unrecorded liability

Solution & Step-by-step Explanation

At the time of dissolution, provisions against assets (like Provision for Doubtful Debts) are transferred to the credit side of the Realisation Account. Gross debtors are transferred to the debit side, realization expenses are debited, and payments of liabilities are also debited.

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Identify the item credited to Realisation Account in the event of dissolution of a partnership firm.
A
Provision for doubtful debts
B
Gross value of debtors
C
Realisation expenses
D
Payment of unrecorded liability

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