On firm's dissolution, on realisation of

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Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

On firm's dissolution, on realisation of goodwill (which was shown in Balance Sheet) will be credited to.........

Options:

Realisation Account

Credit account

Partner's Capital Account

Profit & Loss Account

Correct Answer:

Realisation Account

Explanation:

For realisation of any assets including goodwil
Bank A/c Dr.
To Realisation A/c