On dissolution of a firm, bank overdraft is transferred to : - Accountancy MCQ CUET Accountancy 2022 23 Aug Shift 2 PYQs 2026 | ExamTest.live | ExamTest.live

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On dissolution of a firm, bank overdraft is transferred to :

A $Cash Account$
B $Bank Account$
C $Realisation Account$
D $Partner's Capital Account$

Solution & Step-by-step Explanation

During the dissolution of a partnership firm, all external liabilities, including Bank Overdraft, are transferred to the credit side of the Realisation Account to close their respective ledger accounts.

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On dissolution of a firm, bank overdraft is transferred to :

A

Cash Account

B

Bank Account

C

Realisation Account

D

Partner's Capital Account

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Partnership Dissolution

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