Question : Assertion (A) After dissolution cash/ bank account will have nil balance.
Reason (R) Assets whether unrecorded or recorded are credited to the Realization account when realized.
Option 1: Both statements are correct
Option 2: Both statements are incorrect
Option 3: Statement I is correct and statement II is incorrect
Option 4: Statement I is incorrect and statement II is correct
Answer (1)
19th Jan, 2024
Correct Answer: Both statements are correct
Solution :
Answer =
Both statements are correct
After dissolution Cash or Bank Balance will Have zero Balance and All. Assets (Recorded or unrecorded) will Realised or taken over by any Partner and will credited to the Realisation Account.
Hence, the correct option is 1.
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