All assets (except Cash/Bank and fictitious assets) are transferred to the _______ side of _______ account. Option 1: Debit, Realisation Option 2: Debit, Capital Option 3: Credit, Realisation Option 4: Credit, Capital

The answer is 'Debit, Realisation'. View full solution:

CUET Accountancy - All assets (except Cash/Bank and fictitious assets) are transferred to the _______ side of _______ account. | PYQs + Solutions

CUET Accountancy 2022 15 July Shift 2

Partnership

Easy

Debit, Realisation

Debit, Capital

Credit, Realisation

Credit, Capital

✅ Correct Option: 1

Related questions:

29 May Shift 2

Match List I with List II

LIST I	LIST II
A. Transfer of accumulated profits	I. Realisation account
B. Unrecorded asset sold on dissolution of firm	II. Profit and Loss Account
C. Manager's commission	III. Profit and Loss Appropriation Account
D. Partner's commission	IV. Partner's Capital account

Choose the correct answer from the options given below:

27 May Shift 1

Unrecorded Liabilities when paid are shown in:

3 June Shift 2

The dissolution of partnership may take place in any of the following ways except: