On dissolution of the firm, partner's capital accounts are closed through-
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Bank Account
On dissolution, the assets and outside liabilities are closed through the Realisation Account, and the profit or loss on realisation is then transferred to the partners’ capital accounts. What remains in each capital account is finally paid to the partner, or brought in by him, through the Bank (or Cash) Account, which closes the capital accounts.
NCERT (2026-27 edition):
NCERT (2026-27 edition):
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