Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:
While transferring assets to realisation, which of the following account is omitted to be transferred :
Options:
Cash
Patents
Goodwill
All of the above
Correct Answer:
Cash
Explanation:
All asset accounts excluding cash, bank and the fictitious assets, if any are closed by transfer to the debit of Realisation Account at their book values.