CUET Accountancy - In case of dissolution of partnership firm, any liability assumed/paid by a partner is shown on ........? | PYQs + Solutions

CUET Accountancy 2025 24 May Shift 1

Partnership

Easy

common

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

✅ Correct Option: 1

Related questions:

31 May Shift 1

Unrecorded liabilities when paid are shown in:

30 May Shift 1

All assets (except cash/bank and fictitious assets) are transferred to the__________ side of __________Account.

3 June Shift 1

A firm is dissolved compulsorily in the following cases:

(A) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract

(B) when the business of the firm becomes illegal

(D) when some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership

Choose the correct answer from the options given below:

CUET Accountancy 2025 24 May Shift 1 PYQs