Unrecorded assets when taken over by a p

CUET Preparation Today

Start Free Mocks

Home Questions RBVKA7WF6E

Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

Unrecorded assets when taken over by a partner are shown on:

Options:

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

Correct Answer:

Credit of Realisation Account

Explanation:

The correct answer is Option (3) → Credit of Realisation Account