Economics · Partnership Accounts

On dissolution of a partnership firm, the Realisation Account is debited with:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1All external liabilities of the firm
2Cash received from the sale of assets
3Value of assets taken over by partners
4Book value of all assets to be realised (excluding cash/bank)✓

Correct answer

Book value of all assets to be realised (excluding cash/bank)

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On dissolution of a partnership firm, the Realisation Account is debited with:

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