Identify the item credited to Realisation Account in the event of dissolution of a partnership firm. Option 1: Provision for doubtful debts Option 2: Gross value of debtors Option 3: Realisation expenses Option 4: Payment of unrecorded liability

The answer is 'Provision for doubtful debts'. View full solution:

CUET Accountancy - Identify the item credited to Realisation Account in the event of dissolution of a partnership firm. | PYQs + Solutions

CUET Accountancy 2022 15 July Shift 2

Partnership

Medium

Provision for doubtful debts

Gross value of debtors

Realisation expenses

Payment of unrecorded liability

✅ Correct Option: 1

Related questions:

27 May Shift 1

Choose combination of statements that are true about dissolution-

(A) Dissolution of partnership can not take place without intervention of the court.

(B) Court can order a firm to be dissolved when a partner becomes insane.

(D) A partnership is dissolved when there is a death of a partner.

Choose the correct answer from the options given below:

(B) and (D) only
(A), (B) and (D) only
(A) and (D) only
(B), (C) and (D) only

3 June Shift 2

At the time of the Dissolution of a Partnership Firm, which statement is not false :-

31 May Shift 1

According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

CUET Accountancy 2022 15 July Shift 2 PYQs

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