Match List-I with List-IIList-IList-II(A

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Target Exam

CUET

Subject

Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

Match List-I with List-II

List-I	List-II
(A) Partner pays the dissolution expenses and firm agrees to reimburse	(I) Debit Relisation Account and Credit Bank/Cash Account
(B) Partner bears the dissolution expenses on his own	(II) Excess shall be borne by the partner
(C) Firm bears the dissolution expenses	(III) No entry
(D) Firm has given the fixed sum to a partner for bearing dissolution expenses irrespective of actual amount	(IV) Debit Relisation Account and Credit Partner’s Capital Account

Choose the correct answer from the options given below:

Options:

(A) - (I), (B) - (IV), (C) - (III), (D) - (II)

(A) - (II), (B) - (IV), (C) - (III), (D) - (I)

(A) - (IV), (B) - (III), (C) - (I), (D) - (II)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer:

(A) - (IV), (B) - (III), (C) - (I), (D) - (II)

Explanation:

The correct answer is Option (3) →

(A) - (IV), (B) - (III), (C) - (I), (D) - (II)