CUET Accountancy - After transferring liabilities like creditors and bills payables in the Realisation Account, in the absence of any information regarding their payment, such liabilities are treated as: | PYQs + Solutions

CUET Accountancy 2025 31 May Shift 1

Partnership

Easy

common

Never paid

Fully paid

Partly paid

Paid according to Capital contribution

✅ Correct Option: 2

Related questions:

24 May Shift 1

All assets except cash/bank and fictitious assets are transferred to the Debit side of the ______Account.

27 May Shift 2

Identify the steps involved in the accounting treatment in the case of dissolution of firm:

(A) Capital accounts of partners are prepared and their final settlement is done.

(B) The balance of realisation account (profit or loss on realization) is transferred to partners' capital accounts in the profit sharing ratio.

(D) Realisation account is prepared.

(E) Bank account is prepared.

Choose the correct answer from the options given below:

22 May Shift 2

When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to

CUET Accountancy 2025 31 May Shift 1 PYQs