Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

What is paid to a partner if a partner is paid remuneration and also agreed amount as realisation expenses at the time of dissolution of partnership firm?

Options:

Remuneration

Agreed amount of realisation expenses

Both

None of these

Correct Answer:

Both

Explanation:

For agreed remuneration to such partner who agrees to undertake the dissolution work-
Realisation A/c Dr.
  To Partner’s Capital A/c
(Being remuneration and realisation expenses payable to partner)