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easyMCQCUET Accountancy 2025 30 May Shift 12026Accountancy
1 mark

On the dissolution of a firm, the Creditors are transferred to :

  1. A
    Realization Account
  2. B
    Bank Account
  3. C
    Cash Account
  4. D
    Partner's capital Account

Solution & Step-by-step Explanation

Upon the dissolution of a partnership firm, all outside liabilities and third-party debts, including creditors, are closed by transferring them to the credit side of the Realization Account at their book values.

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On the dissolution of a firm, the Creditors are transferred to :
A
Realization Account
B
Bank Account
C
Cash Account
D
Partner's capital Account

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PartnershipDissolutionRealization Account

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