Practicing Success
Practicing Success
CUET Preparation Today
| On dissolution of a partnership firm, the Partner’s Loan Account is transferred to: |
Partner’s Capital Account Partner’s Current Account Realisation Account None of these |
| None of these |
| We do not transfer the loan by a partner to the firm to Realisation account, it remains in its account itself. At the time of settlement, i.e., payment of liabilities, we pay the partner’s loan after paying the outside liabilities but before payment of capital. |
