Match List-I with List-II List-

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

Match List-I with List-II

List-I	List-II
(A) On dissolution of a firm, creditors is transferred to:	(I) Bank account is credited
(B) Unrecorded liabilities when paid:	(II) Realization Account
(C) When realization expenses are paid by the firm on behalf of a partner, such expenses are debited to:	(III) Bank account is debited.
(D) When unrecorded assets are sold	(IV) Partner's Capital Account

Choose the correct answer from the options given below:

Options:

(A)-(II), (B)-(I), (C)-(IV), (D)-(III)

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(I), (B)-(II), (C)-(IV), (D)-(III)

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Correct Answer:

(A)-(II), (B)-(I), (C)-(IV), (D)-(III)

Explanation:

The correct answer is Option (1) → (A)-(II), (B)-(I), (C)-(IV), (D)-(III)

List-I	List-II
(A) On dissolution of a firm, creditors is transferred to:	(II) Realization Account
(B) Unrecorded liabilities when paid:	(I) Bank account is credited
(C) When realization expenses are paid by the firm on behalf of a partner, such expenses are debited to:	(IV) Partner's Capital Account
(D) When unrecorded assets are sold	(III) Bank account is debited.