Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

What is the name of the asset that is not transferred to the debit side of realisation A/c, but brings a certain amount of cash against its disposal at the time of dissolution of the partnership firm?

Options:

Furniture

Vehicle

Unrecorded asset

Debtors

Correct Answer:

Unrecorded asset

Explanation:

For realisation of any unrecorded assets including goodwill-
  Bank A/c Dr.
    To Realisation A/c