Provisions appearing on the liabilities side of Balance Sheet (like Provision for Doubtful Debts) are transferred to the Credit side of Realisation Account at the time of dissolution, similar to external liabilities.
Select the way by which provisions appearing in the Balance Sheet of a partnership firm are closed at the time of firm's dissolution.
Held on 11 Jun 2023 · Verified 13 Jul 2026.
Transferring them to the Credit of Partner's Capital A/c
Transferring them to the Credit of Partner's Current A/c
Transferring them to the Credit of Realisation A/c
Transferring them to the Debit of Realisation A/c
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
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.