CUET Accountancy - On the dissolution of a firm, creditors is transferred to: | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Partnership

Easy

common

Cash Account

Bank Account

Realisation Account

Partners Capital Account

✅ Correct Option: 3

Related questions:

22 May Shift 2

When a partnership firm is dissolved, final payment made to partners is transferred to

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 1

One of the partner took-over furniture at the time of dissolution of the firm, which account will be debited:

CUET Accountancy 2025 22 May Shift 2 PYQs