On dissolution of a firm, partner's spouse loan account is transferre…

The correct answer is Option (1) → Realisation Account

On dissolution, every external liability is transferred to the credit of the Realisation Account. A loan from a partner's spouse is owed to an outsider, not to the partner, so it is an external liability and goes to the Realisation Account. Only a partner's own loan is kept out of it and repaid separately, after the outside liabilities. So if the question asked about a partner's own loan, the answer would be “None of the above”; it is the word spouse that makes the loan an outside liability here.