Question : Which of the following is not transferred to Realisation Account:
Option 1: Balance of Cash Account
Option 2: Balance of Reserves
Option 3: Balance of Profit & Loss Account
Option 4: All of the Above
Answer (1)
24th Jan, 2024
Correct Answer: All of the Above
Solution : The balances of partners' loan accounts, reserve funds, profit and loss accounts, and cash/bank balances are not moved to the realisation account.
Hence the correct answer is option 4.
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