Partnership

Dissolution

Easy

common

Creditors are transferred to __________ on the dissolution of the firm.

Bank Account

Partner's Capital Account

Cash Account

Realisation Account

✅ Correct Option: 4

On dissolution all external assets and external liabilities are closed by transfer to the Realisation A/c. Creditors are an outside liability, so Creditors A/c is debited and Realisation A/c credited. Only partner's loan and capital accounts stay outside this transfer.

2022: 23 Aug Shift 2

On dissolution of a firm, bank overdraft is transferred to :

2023: 11 June Shift 3

Realisation A/c is debited with __________ on the dissolution of firm.

2026: 23 May Shift 2

In case of dissolution of a firm, the partners loan A/c is transfer to ________

2025: 2 June Shift 2

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

2025: 30 May Shift 1

On dissolution of the firm, partner's capital accounts are closed through:

2025: 31 May Shift 1

According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

Creditors are transferred to __________ on the dissolution of the firm.

Solution

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