On dissolution, all assets including goodwill are transferred to the debit side of the Realisation Account at their book value, as the Realisation Account records the book value of assets being realised.
On dissolution of partnership, goodwill account is transferred to :
Held on 28 May 2023 · Verified 13 Jul 2026.
The debit side of Realisation Account
The credit side of Realisation Account
The credit side of Partner's Capital/Current Account
The debit side of Partner's Capital/Current Account
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.