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Question : On dissolution of firm, which item is credited to the realisation account?

Option 1: Realisation expenses paid by partner

Option 2: Balance of reserve fund

Option 3: Amount of unrecorded assets realised

Option 4: Creditor's balance shown in the Balance Sheet


Team Careers360 13th Jan, 2024
Answer (1)
Team Careers360 15th Jan, 2024

Correct Answer: Amount of unrecorded assets realised


Solution : Answer = Amount of unrecorded assets realised

When assets are realised, the realisation account will be credited.
Bank a/c......Dr
To Realisation a/c.
Hence, the correct option is 3.

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