Question : On dissolution of a partnership firm, the amount received from the sale of assets is debited to
Option 1: Realization account
Option 2: Cash account
Option 3: Partner's capital account
Option 4: None of the above
Answer (1)
3rd Jan, 2024
Correct Answer: Cash account
Solution :
Answer =
Cash Account.
When assets are realized, then the cash or bank account will be debited, and the realization account will be credited.
Hence, the correct option is 2.
Comments (0)
