Question : At the time of dissolution of the partnership firm, fictitious assets are transferred to :

Option 1: Capital Accounts of Partners

Option 2: Realisation Account

Option 3: Cash Account

Option 4: Partners' Loan Account

Question : At the time of dissolution of partnership firm, fictitious assets are transferred to

Option 1: Capital Accounts of Partners

Option 2: Realisation Account

Option 3: Cash Account

Option 4: Partners’ Loan Account

Question : At the time of dissolution of the partnership firm, fictitious assets are transferred to :

Option 1: Capital Accounts of Partners

Option 2: Realisation Account

Option 3: Cash Account

Option 4: Partners' Loan Account

Question : All assets of the firm except cash/bank are transferred to Realisation A/c at _________.

Option 1: Book value

Option 2: Market value

Option 3: Present value

Option 4: Future value

Question : Identify the assets which is not transferred to Realisation A/c from the following:

Option 1: Bills receivable

Option 2: Cash in hand/bank

Option 3: Goodwill

Option 4: Prepaid expenses