Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

On dissolution, when a partner takes over an asset...............is debited.

Options:

Partner's Capital Accounts

Asset A/c

Realisation A/c

None of the above

Correct Answer:

Partner's Capital Accounts

Explanation:

For an asset taken over by a partner
Partner’s Capital A/c Dr.
     To Realisation A/c