Question : At the time of dissolution of the 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)
19th Jan, 2024
Correct Answer: Capital Accounts of Partners
Solution :
Answer =
Capital Accounts of Partners
.
At the time of dissolution of the partnership firm, fictitious assets like profit and loss, debit balance, differed Revenue, expenses, etc. should be distributed between the partners.
Hence, the correct option is 1.
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