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easyMCQCUET Accountancy 2025 3 June Shift 12026Accountancy
1 mark

Partner's current accounts are transferred to respective Partners' _____________________.

  1. A
    Loan Accounts
  2. B
    Capital Accounts
  3. C
    Bank Account
  4. D
    Realisation Account

Solution & Step-by-step Explanation

When a partnership firm undergoes dissolution under a fixed capital system, the balances in the Partners' Current Accounts are first transferred directly to their respective Partners' Capital Accounts to arrive at the final single consolidated balance due to or from each partner.

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Partner's current accounts are transferred to respective Partners' _____________________.
A
Loan Accounts
B
Capital Accounts
C
Bank Account
D
Realisation Account

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