Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

At the time of dissolution of partnership firm, which of the following account (s) is/are prepared?

Options:

Cash Account

Realisation A/c

Partner's Capital A/c

All of the above

Correct Answer:

All of the above

Explanation:

On dissolution, the books of the firm are to be closed. Dissolution process starts by opening the following accounts in the firm’s books: Realisation Account, Partner’s Loan Account, Partners’ Capital Accounts, Bank or Cash Account.