On dissolution of a firm, partner’

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Target Exam

CUET

Subject

Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

On dissolution of a firm, partner’s spouse loan account is transferred to:

Options:

Realisation Account

Partner’s Capital Account

Partner’s Current Account

Not transferred to any of above account

Correct Answer:

Realisation Account

Explanation:

The correct answer is Option (1) →

Realisation Account