Question : On dissolution, the final balance of capital accounts are transferred to
Option 1: Realisation Account
Option 2: Cash Account
Option 3: Profit & Loss Account
Option 4: Loan Accounts of Partners
Correct Answer: Cash Account
Solution : The final balance of the partner's capital account is transferred to the cash account upon dissolution.
Hence the Correct answer is option 2.
Question : At the time of dissolution partner's loan (cr balance ) account is transferred to:
Question : On dissolution, goodwill account is transferred to :
Question : At the time of dissolution of the partnership firm, fictitious assets are transferred to :
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