In case of dissolution of partnership fi

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

In case of dissolution of partnership firm, any liability assumed/paid by a partner is shown on ........?

Options:

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

Correct Answer:

Debit of Realisation Account

Explanation:

The correct answer is Option (1) → Debit of Realisation Account