On dissolution, when a partner takes over an asset...............is debited.
Answer & explanation
Correct answer: option 1
For an asset taken over by a partner
Partner’s Capital A/c Dr.
To Realisation A/c
On dissolution, when a partner takes over an asset...............is debited.
Correct answer: option 1
For an asset taken over by a partner
Partner’s Capital A/c Dr.
To Realisation A/c