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Which of the following is not transferred to Realisation A/c at the time of dissolution of partnership firm? |
Balance of Cash Account Balance of Reserves Balance of Profit & Loss Account All of the above |
All of the above |
The correct answer is option 4- All of the above. Balance of Cash account, balance of reserves and balance of profit and loss account is not transferred to realisation account. Cash balance is transferred to cash account. Profit & loss A/c balance and reserves are transferred to directly partner's capital account. |
