Practicing Success
For which of the following, situations "No entry" will be passed at the time of Dissolution of firm when all the assets and Liabilities were already transferred. Choose the correct answer from the options given below: |
A, B, D and E only A, C and D only B and E only A, C, D and E only |
A, C and D only |
A) Creditors of ₹50,000 were settled by giving stock of ₹60,000 in full settlement - No entry is passes as creditor took over the asset. |