Question : At the time of dissolution of partnership firm, fictitious assets are transferred to
Option 1: Capital Accounts of Partners
Option 2: Realisation Account
Option 3: Cash Account
Option 4: Partners’ Loan Account
Answer (1)
20th Jan, 2024
Correct Answer: Capital Accounts of Partners
Solution : False/ Fictitious assets are transferred to partners' capital accounts at the moment of partnership firm dissolution.
Hence the Correct answer is option 1.
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