Question : On dissolution of a firm, bank overdraft is transferred to -
Option 1: Overdraft Account
Option 2: Realisation Account
Option 3: Partner's Capital Account
Option 4: Bank Account

Question

Question : On dissolution of a firm, bank overdraft is transferred to -

Option 1: Overdraft Account

Option 2: Realisation Account

Option 3: Partner's Capital Account

Option 4: Bank Account

Team Careers360 · Accepted Answer

Correct Answer: Realisation Account

Solution : Bank overdrafts are transferred to Realisation accounts upon firm dissolution.

Hence the correct answer is option 2.

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Question : On dissolution of a firm, bank overdraft is transferred to -Option 1: Overdraft AccountOption 2: Realisation AccountOption 3: Partner's Capital AccountOption 4: Bank Account

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Question : On dissolution of the firm, Bank overdraft is transferred to ....Option 1: Bank accountOption 2: Realization accountOption 3: Either 1 and 2Option 4: Partner's capital account

Question : On dissolution of the firm, Bank overdraft is transferred to ....Option 1: Bank accountOption 2: Realization accountOption 3: Either 1 and 2Option 4: Partner's capital account

Question : On dissolution of a firm, a partner paid Rs. 6,500 for firm’s realisation expenses. Which account will be debited?Option 1: Cash AccountOption 2: Realisation AccountOption 3: Capital Account of the PartnerOption 4: Profit & Loss A/c

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Question : On dissolution of a firm, bank overdraft is transferred to -
Option 1: Overdraft Account
Option 2: Realisation Account
Option 3: Partner's Capital Account
Option 4: Bank Account

Question : On dissolution of the firm, Bank overdraft is transferred to ....
Option 1: Bank account
Option 2: Realization account
Option 3: Either 1 and 2
Option 4: Partner's capital account

Question : On dissolution of the firm, Bank overdraft is transferred to ....
Option 1: Bank account
Option 2: Realization account
Option 3: Either 1 and 2
Option 4: Partner's capital account

Question : On dissolution of a firm, a partner paid Rs. 6,500 for firm’s realisation expenses. Which account will be debited?
Option 1: Cash Account
Option 2: Realisation Account
Option 3: Capital Account of the Partner
Option 4: Profit & Loss A/c

Question : On dissolution of the firm partner's capital account is closed through.
Option 1: realization account
Option 2: drawing account
Option 3: loan account
Option 4: bank account

Question : On dissolution of the firm partner's capital account is closed through.
Option 1: realization account
Option 2: drawing account
Option 3: loan account
Option 4: bank account