On dissolution of partnership, goodwill account is transferred to : Option 1: The debit side of Realisation Account Option 2: The credit side of Realisation Account Option 3: The credit side of Partner's Capital/Current Account Option 4: The debit side of Partner's Capital/Current Account

The answer is 'The debit side of Realisation Account'. View full solution:

CUET Accountancy - On dissolution of partnership, goodwill account is transferred to : | PYQs + Solutions

CUET Accountancy 2023 28 May Shift 1

Partnership

Easy

The debit side of Realisation Account

The credit side of Realisation Account

The credit side of Partner's Capital/Current Account

The debit side of Partner's Capital/Current Account

✅ Correct Option: 1

Related questions:

30 May Shift 1

Match List-I with List-II

List-I	List-II
(A) On dissolution of a firm, creditors is transferred to:	(I) Bank account is credited
(B) Unrecorded liabilities when paid:	(II) Realization Account
(C) When realization expenses are paid by the firm on behalf of a partner, such expenses are	(III) Bank account is debited.
(D) When unrecorded assets are sold	(IV) Partner's Capital Account

Choose the correct answer from the options given below:

4 June Shift 2

At the time of dissolution, when creditor accepts an asset whose value is much more than the amount due to him, he will _________ the excess amount which will be credited to _________ account?

2 June Shift 2

When realisation expenses are paid by the Partner on behalf of a Firm, which account will be credited:

CUET Accountancy 2023 28 May Shift 1 PYQs

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