On dissolution of a firm, bank overdraft

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

On dissolution of a firm, bank overdraft is transferred to:

Options:

Cash Account

Bank Account

Realisation Account

Partner's Capital Account

Correct Answer:

Realisation Account

Explanation:

The correct answer is Option (3) → Realisation Account