Economics · Partnership Accounting
Upon the dissolution of a partnership firm, the amount realized from an unrecorded asset is transferred to the credit side of which account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Cash Account
- 2Partner's Capital Accounts
- 3Realization Account✓
- 4Revaluation Account
Correct answer
Realization Account
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