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:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) →
(A) - (IV), (B) - (III), (C) - (I), (D) - (II)