Browse by Stream
My Companion New
Search Colleges, Exams, Schools & more
    • Home
    • QnAHome
    • Question : On dissolution of a firm, bank overdraft is transferred to : Option 1: Bank Account Option 2: Realisation Account Option 3: Part ...
    Get answers from students and experts Ask
    8 Views

    Question : On dissolution of a firm, bank overdraft is transferred to :

     

    Option 1: Bank Account

    Option 2: Realisation Account

     

    Option 3: Partners’ Capital Account

     

    Option 4: Partners' Loan Account

    Team Careers360 20th Jan, 2024
    Answer
    Answer (1)
    Team Careers360 22nd Jan, 2024

    Correct Answer: Realisation Account


    Solution :

    Bank overdraft is an external liability. Every external liability has to be paid off at the time of dissolution of partnership firm. Hence it will be transferred to Realisation A/c.

    Share
    Facebook Copy Link
    More
    Report
    Comments (0)
    Question cannot be greater than 3000 characters
    0/3000
    Get answers from students and experts Ask

    Related Questions

    Question : If there is no claim against Workmen Compensation Reserve, it is _____ at the time of admission of a partner.

    29 Views

    Question : Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm?

    10 Views

    Question : Which year marked the third general election in India?  

     

    8 Views

    Question : Arrange the following in the correct order:

    (A)

    69 Views

    Question : The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following

    9 Views

    Trending Articles/News

    JEE Main News Updates by NTA - New Changes, No. Of Attempts, Age Limit
    JEE Main News Updates by NTA - New Changes, No. Of Attempts, Age Limit
    2 hours ago
    JEE Advanced 2025 - Exam Date (Out), Eligibility Criteria, Syllabus, Pattern, Question Paper, Cut Off
    JEE Advanced 2025 - Exam Date (Out), Eligibility Criteria, Syllabus, Pattern, Question Paper, Cut Off
    2 hours ago
    JEE Main Syllabus with Weightage 2025 for PCM - Chapter Wise PDF Download
    JEE Main Syllabus with Weightage 2025 for PCM - Chapter Wise PDF Download
    2 hours ago
    CLAT 2025 Cut-Offs Live Analysis (OUT): NLU-wise Expected Cut-Offs, Marks vs Rank, Previous Trends
    CLAT 2025 Cut-Offs Live Analysis (OUT): NLU-wise Expected Cut-Offs, Marks vs Rank, Previous Trends
    4 hours ago
    Mumbai University LLM Entrance Exam 2024: Result (Out), Merit List
    Mumbai University LLM Entrance Exam 2024: Result (Out), Merit List
    4 hours ago
    Link Copied
    The question have been saved in answer later, you can access it from your profile anytime. Access now
    Thanks! Your report is submitted, the author will be informed about it

    Download the Careers360 App on your Android phone

    Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

    Careers360 App
    • 150M+ Students
    • 30,000+ Colleges
    • 500+ Exams
    • 1500+ E-books
    • Economic Times
    • Financial Express
    • Firstpost
    • Livemint