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
Answer (1)
23rd 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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